Roth Capital Has Negative Forecast for FBIO FY2024 Earnings

Fortress Biotech, Inc. (NASDAQ:FBIO) – Equities researchers at Roth Capital decreased their FY2024 earnings per share estimates for Fortress Biotech in a report released on Monday, November 18th. Roth Capital analyst J. Wittes now anticipates that the biopharmaceutical company will earn ($3.28) per share for the year, down from their prior forecast of ($2.65). The consensus estimate for Fortress Biotech’s current full-year earnings is ($2.65) per share. Roth Capital also issued estimates for Fortress Biotech’s Q4 2024 earnings at ($0.75) EPS and FY2026 earnings at $0.23 EPS.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday, November 15th. HC Wainwright boosted their price objective on Fortress Biotech from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Fortress Biotech has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Fortress Biotech Trading Up 2.5 %

Shares of Fortress Biotech stock opened at $1.61 on Thursday. The firm has a fifty day simple moving average of $1.68 and a 200-day simple moving average of $1.82. The stock has a market capitalization of $44.44 million, a price-to-earnings ratio of -0.53 and a beta of 1.75. Fortress Biotech has a 1-year low of $1.36 and a 1-year high of $4.43.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FBIO. Virtu Financial LLC acquired a new stake in Fortress Biotech during the first quarter worth $31,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Fortress Biotech by 68.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 18,700 shares during the period. Atria Investments Inc boosted its position in shares of Fortress Biotech by 58.4% during the 3rd quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 26,351 shares in the last quarter. 180 Wealth Advisors LLC bought a new stake in Fortress Biotech in the second quarter valued at about $107,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Fortress Biotech in the second quarter worth about $207,000. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald acquired 763,359 shares of Fortress Biotech stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $1.84 per share, for a total transaction of $1,404,580.56. Following the transaction, the chief executive officer now owns 3,657,264 shares of the company’s stock, valued at $6,729,365.76. The trade was a 26.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 33.40% of the company’s stock.

Fortress Biotech Company Profile

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.