Fortress Biotech (NASDAQ:FBIO) Releases Earnings Results

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

Fortress Biotech Stock Down 5.5%

NASDAQ:FBIO traded down $0.11 during mid-day trading on Friday, reaching $1.88. The stock had a trading volume of 263,594 shares, compared to its average volume of 590,963. The stock has a market cap of $62.73 million, a P/E ratio of 0.71 and a beta of 1.27. The business’s 50 day moving average is $2.15 and its 200 day moving average is $2.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.96 and a quick ratio of 3.83. Fortress Biotech has a fifty-two week low of $1.75 and a fifty-two week high of $4.53.

Wall Street Analyst Weigh In

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

About Fortress Biotech

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.