Research Analysts Set Expectations for Fortress Biotech, Inc.’s Q1 2024 Earnings (NASDAQ:FBIO)

Fortress Biotech, Inc. (NASDAQ:FBIO) – Investment analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for Fortress Biotech in a research note issued on Tuesday, April 9th. HC Wainwright analyst J. Pantginis forecasts 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 ($5.12) 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 analysts have also commented on FBIO. Roth Mkm assumed coverage on Fortress Biotech in a research note on Friday, March 15th. They set a “buy” rating and a $10.00 price target on the stock. StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Alliance Global Partners assumed coverage on Fortress Biotech in a research note on Tuesday, March 19th. They set a “buy” rating and a $5.00 price target on the stock.

Fortress Biotech Stock Down 1.1 %

NASDAQ:FBIO opened at $1.80 on Friday. Fortress Biotech has a twelve month low of $1.24 and a twelve month high of $12.75. The company has a market cap of $34.63 million, a price-to-earnings ratio of -0.22 and a beta of 1.51. The stock has a fifty day simple moving average of $1.93 and a 200-day simple moving average of $2.35. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 38.42.

Institutional Investors Weigh In On Fortress Biotech

Institutional investors and hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in Fortress Biotech in the fourth quarter valued at approximately $2,816,000. Renaissance Technologies LLC lifted its holdings in Fortress Biotech by 1,005.2% in the first quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock valued at $1,498,000 after acquiring an additional 1,001,653 shares during the period. CI Private Wealth LLC purchased a new stake in shares of Fortress Biotech in the fourth quarter valued at approximately $519,000. Millennium Management LLC increased its position in shares of Fortress Biotech by 569.9% in the second quarter. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 745,405 shares in the last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of Fortress Biotech in the fourth quarter valued at approximately $1,794,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Fortress Biotech Company Profile

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.