Fortress Biotech (NASDAQ:FBIO) Posts Earnings Results, Beats Expectations By $0.53 EPS

Fortress Biotech (NASDAQ:FBIO) announced its earnings results on Monday. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.53, Zacks reports.

Fortress Biotech Stock Down 3.1 %

Shares of Fortress Biotech stock traded down $0.05 on Monday, reaching $1.56. 319,210 shares of the stock were exchanged, compared to its average volume of 408,431. The business has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $1.78. The firm has a market capitalization of $43.06 million, a price-to-earnings ratio of -0.51 and a beta of 1.75. Fortress Biotech has a twelve month low of $1.36 and a twelve month high of $2.89.

Analysts Set New Price Targets

Separately, Roth Mkm restated a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of Fortress Biotech in a research note on Tuesday, March 11th.

About Fortress Biotech

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.