Fortress Biotech (NASDAQ:FBIO – Get Free Report) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12, FiscalAI reports. Fortress Biotech had a return on equity of 109.66% and a net margin of 193.12%.The firm had revenue of $18.72 million during the quarter, compared to analysts’ expectations of $18.30 million.
Fortress Biotech Stock Up 8.4%
Shares of FBIO traded up $0.23 during trading hours on Thursday, hitting $2.98. 1,394,060 shares of the company were exchanged, compared to its average volume of 661,776. The company has a market cap of $99.00 million, a PE ratio of 0.94 and a beta of 1.21. The firm’s 50 day moving average is $3.06 and its 200-day moving average is $2.94. Fortress Biotech has a 52 week low of $1.91 and a 52 week high of $4.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.77 and a current ratio of 2.86.
Institutional Investors Weigh In On Fortress Biotech
Large investors have recently added to or reduced their stakes in the stock. Opaleye Management Inc. bought a new stake in Fortress Biotech in the 4th quarter valued at $3,989,000. Vanguard Group Inc. lifted its stake in shares of Fortress Biotech by 11.4% in the third quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock valued at $3,511,000 after buying an additional 97,405 shares during the period. Geode Capital Management LLC grew its position in Fortress Biotech by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 262,492 shares of the biopharmaceutical company’s stock worth $961,000 after buying an additional 18,071 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in Fortress Biotech during the fourth quarter worth about $667,000. Finally, Two Sigma Investments LP increased its stake in Fortress Biotech by 85.4% during the third quarter. Two Sigma Investments LP now owns 84,981 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 39,149 shares during the period. Institutional investors own 96.51% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Report on FBIO
Fortress Biotech Company Profile
Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.
Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.
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