Brokers Offer Predictions for Fortress Biotech, Inc.’s Q1 2024 Earnings (NASDAQ:FBIO)

Fortress Biotech, Inc. (NASDAQ:FBIO) – Equities researchers at HC Wainwright issued their Q1 2024 earnings estimates for shares of Fortress Biotech in a research report issued on Tuesday, April 9th. HC Wainwright analyst J. Pantginis expects that the biopharmaceutical company will post earnings per share of ($2.60) for the quarter. The consensus estimate for Fortress Biotech’s current full-year earnings is ($6.57) per share. HC Wainwright also issued estimates for Fortress Biotech’s Q2 2024 earnings at ($2.24) EPS, Q3 2024 earnings at ($2.08) EPS, Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($8.03) EPS, FY2025 earnings at ($6.91) EPS and FY2026 earnings at ($6.51) EPS.

Several other equities research analysts have also recently commented on the stock. Alliance Global Partners initiated coverage on shares of Fortress Biotech in a research report on Tuesday, March 19th. They issued a “buy” rating and a $5.00 target price for the company. StockNews.com cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Roth Mkm started coverage on shares of Fortress Biotech in a research report on Friday, March 15th. They issued a “buy” rating and a $10.00 target price for the company.

Fortress Biotech Trading Down 1.1 %

NASDAQ:FBIO opened at $1.80 on Friday. The company has a 50-day moving average price of $1.93 and a 200-day moving average price of $2.34. Fortress Biotech has a 12 month low of $1.24 and a 12 month high of $12.75. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 38.42. The stock has a market cap of $34.63 million, a price-to-earnings ratio of -0.22 and a beta of 1.51.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new position in shares of Fortress Biotech in the 4th quarter worth about $2,816,000. State Street Corp increased its stake in shares of Fortress Biotech by 4.0% in the 1st quarter. State Street Corp now owns 1,292,970 shares of the biopharmaceutical company’s stock worth $1,758,000 after acquiring an additional 49,370 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Fortress Biotech by 1,005.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock worth $1,498,000 after acquiring an additional 1,001,653 shares in the last quarter. Millennium Management LLC increased its stake in shares of Fortress Biotech by 569.9% in the 2nd quarter. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 745,405 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Fortress Biotech by 23.1% in the 2nd quarter. Geode Capital Management LLC now owns 859,385 shares of the biopharmaceutical company’s stock worth $473,000 after acquiring an additional 161,098 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.