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

Fortress Biotech, Inc. (NASDAQ:FBIO) – Equities research analysts at HC Wainwright issued their Q1 2024 earnings estimates for Fortress Biotech in a report issued on Tuesday, April 9th. HC Wainwright analyst J. Pantginis anticipates that the biopharmaceutical company will post earnings of ($2.60) per share 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.

FBIO has been the subject of several other reports. Alliance Global Partners began coverage on shares of Fortress Biotech in a research report on Tuesday, March 19th. They set a “buy” rating and a $5.00 target price for the company. StockNews.com downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Roth Mkm began coverage on shares of Fortress Biotech in a research report on Friday, March 15th. They set 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 debt-to-equity ratio of 38.42, a current ratio of 1.38 and a quick ratio of 1.26. The firm has a 50-day moving average of $1.93 and a 200-day moving average of $2.34. The company has a market cap of $34.63 million, a PE ratio of -0.22 and a beta of 1.51. Fortress Biotech has a one year low of $1.24 and a one year high of $12.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBIO. Jefferies Financial Group Inc. purchased a new position in Fortress Biotech during the fourth quarter worth about $2,816,000. Renaissance Technologies LLC boosted its holdings in Fortress Biotech by 1,005.2% during the first quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 1,001,653 shares during the last quarter. CI Private Wealth LLC purchased a new position in Fortress Biotech during the fourth quarter worth about $519,000. Millennium Management LLC boosted its holdings in Fortress Biotech by 569.9% during the second quarter. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 745,405 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in Fortress Biotech during the fourth quarter worth about $1,794,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

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.