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

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

Fortress Biotech Stock Down 3.1 %

Shares of NASDAQ FBIO traded down $0.05 during mid-day trading on Monday, reaching $1.56. 319,210 shares of the company were exchanged, compared to its average volume of 408,431. The stock has a market cap of $43.06 million, a price-to-earnings ratio of -0.51 and a beta of 1.75. The firm has a 50-day moving average of $1.71 and a 200 day moving average of $1.78. Fortress Biotech has a 1 year low of $1.36 and a 1 year high of $2.89.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Fortress Biotech in a research report 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.