Fortress Biotech (NASDAQ:FBIO) Releases Earnings Results

Fortress Biotech (NASDAQ:FBIO) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.59, Zacks reports. The company had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $14.97 million.

Fortress Biotech Price Performance

FBIO stock traded up $0.09 during trading on Thursday, hitting $1.90. The stock had a trading volume of 413,933 shares, compared to its average volume of 311,420. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.33 and a quick ratio of 1.21. Fortress Biotech has a twelve month low of $1.24 and a twelve month high of $7.35. The stock has a market capitalization of $38.78 million, a P/E ratio of -0.31 and a beta of 1.74. The company’s 50-day moving average price is $1.92 and its two-hundred day moving average price is $1.89.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FBIO shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a research note on Thursday, June 20th. StockNews.com upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Wednesday. Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Fortress Biotech in a research note on Thursday, May 16th. Finally, HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Fortress Biotech in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

Insider Buying and Selling

In other news, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the acquisition, the chief executive officer now owns 2,893,905 shares in the company, valued at approximately $4,746,004.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the acquisition, the chief executive officer now owns 2,893,905 shares in the company, valued at approximately $4,746,004.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lindsay A. Md Rosenwald bought 5,000 shares of the stock in a transaction dated Monday, July 8th. The shares were bought at an average price of $7.35 per share, for a total transaction of $36,750.00. Following the completion of the acquisition, the chief executive officer now owns 117,500 shares in the company, valued at $863,625. The disclosure for this purchase can be found here. In the last three months, insiders have bought 30,500 shares of company stock worth $110,700. Insiders own 33.40% of the company’s stock.

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.