Fortress Biotech Inc. (NASDAQ:FBIO) – Investment analysts at Roth Capital issued their Q3 2016 EPS estimates for Fortress Biotech in a research note issued on Monday. Roth Capital analyst J. Pantginis forecasts that the brokerage will earn ($0.19) per share for the quarter. Roth Capital has a “Buy” rating and a $9.00 price target on the stock. Roth Capital also issued estimates for Fortress Biotech’s Q4 2016 earnings at ($0.23) EPS, FY2016 earnings at ($1.03) EPS, FY2017 earnings at ($1.27) EPS, FY2018 earnings at ($1.51) EPS, FY2019 earnings at ($1.69) EPS and FY2020 earnings at ($1.97) EPS.
Other research analysts also recently issued research reports about the company. FBR & Co reiterated an “outperform” rating on shares of Fortress Biotech in a report on Wednesday, July 20th. Zacks Investment Research upgraded Fortress Biotech from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Tuesday, September 20th.
Fortress Biotech (NASDAQ:FBIO) opened at 2.85 on Wednesday. The stock’s 50 day moving average price is $2.78 and its 200 day moving average price is $2.97. The stock’s market cap is $138.70 million. Fortress Biotech has a 52 week low of $2.10 and a 52 week high of $4.66.
Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.02. Fortress Biotech had a negative net margin of 1,687.06% and a negative return on equity of 79.62%.
In related news, SVP George Avgerinos sold 48,912 shares of the company’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $2.55, for a total value of $124,725.60. Following the completion of the sale, the senior vice president now directly owns 293,000 shares of the company’s stock, valued at approximately $747,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.54% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. purchased a new stake in shares of Fortress Biotech during the second quarter worth about $154,000. Parametric Portfolio Associates LLC boosted its stake in shares of Fortress Biotech by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 57,196 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 344 shares during the period. State Street Corp boosted its stake in shares of Fortress Biotech by 2,170.8% in the second quarter. State Street Corp now owns 268,632 shares of the biopharmaceutical company’s stock worth $723,000 after buying an additional 256,802 shares during the period. Teachers Advisors Inc. purchased a new stake in shares of Fortress Biotech during the second quarter worth about $146,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Fortress Biotech by 129.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 314,920 shares of the biopharmaceutical company’s stock worth $847,000 after buying an additional 177,930 shares during the period. 16.67% of the stock is owned by hedge funds and other institutional investors.
Fortress Biotech Company Profile
Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.
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