Fortress Biotech, Inc. (NASDAQ:FBIO) Expected to Announce Quarterly Sales of $23.26 Million

Analysts expect Fortress Biotech, Inc. (NASDAQ:FBIOGet Rating) to announce $23.26 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Fortress Biotech’s earnings. The lowest sales estimate is $20.35 million and the highest is $24.36 million. Fortress Biotech posted sales of $17.84 million in the same quarter last year, which suggests a positive year over year growth rate of 30.4%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Fortress Biotech will report full year sales of $98.87 million for the current year, with estimates ranging from $77.20 million to $126.10 million. For the next year, analysts expect that the firm will report sales of $157.03 million, with estimates ranging from $118.60 million to $244.84 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Fortress Biotech.

Fortress Biotech (NASDAQ:FBIOGet Rating) last announced its earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.10. The firm had revenue of $23.93 million for the quarter, compared to analysts’ expectations of $20.06 million. Fortress Biotech had a negative net margin of 88.31% and a negative return on equity of 32.56%. During the same period in the prior year, the company earned ($0.11) EPS.

Several equities analysts recently commented on FBIO shares. StockNews.com upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Thursday, May 19th. Cantor Fitzgerald reissued a “buy” rating and set a $6.00 target price on shares of Fortress Biotech in a research report on Friday, May 13th. TheStreet cut shares of Fortress Biotech from a “c-” rating to a “d+” rating in a report on Monday, February 14th. Roth Capital reaffirmed a “buy” rating on shares of Fortress Biotech in a report on Tuesday, March 29th. Finally, Zacks Investment Research raised shares of Fortress Biotech from a “strong sell” rating to a “hold” rating in a report on Friday, May 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.50.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its holdings in Fortress Biotech by 113.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 10,620 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Fortress Biotech by 160.5% in the 3rd quarter. Citigroup Inc. now owns 8,879 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 5,470 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Fortress Biotech in the 4th quarter valued at $30,000. Two Sigma Securities LLC acquired a new position in shares of Fortress Biotech in the 3rd quarter valued at $33,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Fortress Biotech in the 1st quarter valued at $33,000. 30.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ FBIO opened at $1.01 on Wednesday. The stock has a market capitalization of $108.49 million, a price-to-earnings ratio of -1.17 and a beta of 2.29. Fortress Biotech has a 12-month low of $0.77 and a 12-month high of $4.49. The firm’s 50-day moving average price is $1.03 and its 200-day moving average price is $1.73. The company has a current ratio of 3.31, a quick ratio of 3.15 and a debt-to-equity ratio of 0.46.

About Fortress Biotech (Get Rating)

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of non-nodular moderate to severe acne vulgaris; Targadox for severe acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; and Accutane capsules for severe recalcitrant nodular acne.

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