Fortress Biotech (NASDAQ:FBIO) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Fortress Biotech (NASDAQ:FBIO) announced its quarterly earnings data on Friday. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.04, FiscalAI reports. The firm had revenue of $19.16 million during the quarter, compared to analyst estimates of $21.57 million. Fortress Biotech had a net margin of 163.32% and a return on equity of 83.47%.

Fortress Biotech Stock Performance

FBIO traded down $0.11 during trading on Friday, reaching $1.88. 310,597 shares of the company’s stock were exchanged, compared to its average volume of 590,978. Fortress Biotech has a 1 year low of $1.75 and a 1 year high of $4.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.96 and a quick ratio of 3.83. The stock has a market capitalization of $62.70 million, a P/E ratio of 0.71 and a beta of 1.27. The company’s fifty day simple moving average is $2.15 and its 200-day simple moving average is $2.73.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FBIO. Weiss Ratings cut shares of Fortress Biotech from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Wall Street Zen lowered Fortress Biotech from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Fortress Biotech currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Fortress Biotech Company Profile

Fortress Biotech, Inc. (NASDAQ: FBIO) is a biopharmaceutical company that develops and commercializes prescription medicines through a network of subsidiary companies and strategic partnerships. Its research and development activities have focused on areas including dermatology, immunology, oncology, rare diseases and other conditions with significant unmet medical needs. The company’s portfolio has included dermatology products such as ZILXI, a topical minocycline foam for the treatment of inflammatory lesions associated with rosacea, and Qbrexza, a topical treatment for primary axillary hyperhidrosis.