What is Roth Capital’s Estimate for FBIO FY2024 Earnings?

Fortress Biotech, Inc. (NASDAQ:FBIO) – Research analysts at Roth Capital cut their FY2024 earnings per share (EPS) estimates for shares of Fortress Biotech in a research report issued to clients and investors on Monday, November 18th. Roth Capital analyst J. Wittes now anticipates that the biopharmaceutical company will post earnings per share of ($3.28) for the year, down from their prior estimate 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.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright upped their price target on shares of Fortress Biotech from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, November 18th. StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortress Biotech has a consensus rating of “Moderate Buy” and an average target price of $13.67.

Fortress Biotech Price Performance

Shares of FBIO opened at $1.61 on Thursday. The company has a 50-day moving average of $1.68 and a two-hundred day moving average of $1.82. The stock has a market cap of $44.44 million, a price-to-earnings ratio of -0.53 and a beta of 1.75. Fortress Biotech has a one year low of $1.36 and a one year high of $4.43.

Insider Activity at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald acquired 763,359 shares of Fortress Biotech stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $1.84 per share, with a total value of $1,404,580.56. Following the completion of the transaction, the chief executive officer now owns 3,657,264 shares in the company, valued at approximately $6,729,365.76. This trade represents a 26.38 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 33.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortress Biotech

A number of hedge funds and other institutional investors have recently made changes to their positions in FBIO. Virtu Financial LLC acquired a new position in Fortress Biotech in the first quarter worth approximately $31,000. Integrated Wealth Concepts LLC increased its stake 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 purchasing an additional 18,700 shares during the last quarter. 180 Wealth Advisors LLC acquired a new position in shares of Fortress Biotech during the 2nd quarter worth $107,000. Atria Investments Inc raised its holdings 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 purchasing an additional 26,351 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Fortress Biotech in the 2nd quarter valued at $207,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

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.