Fortress Biotech Inc [NASDAQ: FBIO] surged by $0.66 during the normal trading session on Friday and reaching a high of $2.22 during the day while it closed the day at $2.09. The company report on November 14, 2023 at 4:10 PM that Fortress Biotech Reports Third Quarter 2023 Financial Results and Recent Corporate Highlights.
Total consolidated net revenue was $34.8 million in the third quarter of 2023, a 100% increase from total consolidated net revenue of $17.4 million in the second quarter of 2023.
Fortress is advancing several late-stage clinical assets with three potential NDA and BLA submissions to FDA through year-end of 2024 across our portfolio1, including a NDA submission for DFD-29 to treat rosacea, anticipated around year-end of 2023.
Fortress Biotech Inc stock has also gained 59.54% of its value over the past 7 days. However, FBIO stock has declined by -69.28% in the 3 months of the year. Over the past six months meanwhile, it has lost -72.94% and lost -78.73% year-on date.
The market cap for FBIO stock reached $18.68 million, with 7.37 million shares outstanding and 4.51 million shares in the current float. Compared to the average trading volume of 108.74K shares, FBIO reached a trading volume of 9048660 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Fortress Biotech Inc [FBIO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FBIO shares is $33.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FBIO stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ladenburg Thalmann have made an estimate for Fortress Biotech Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 04, 2022.
The Average True Range (ATR) for Fortress Biotech Inc is set at 0.35, with the Price to Sales ratio for FBIO stock in the period of the last 12 months amounting to 0.23. The Price to Book ratio for the last quarter was 0.07, with the Price to Cash per share for the same quarter was set at 8.36.
FBIO stock trade performance evaluation
Fortress Biotech Inc [FBIO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 59.54. With this latest performance, FBIO shares gained by 2.96% in over the last four-week period, additionally sinking by -72.94% over the last 6 months – not to mention a drop of -84.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FBIO stock in for the last two-week period is set at 46.75, with the RSI for the last a single of trading hit 55.77, and the three-weeks RSI is set at 41.60 for Fortress Biotech Inc [FBIO]. The present Moving Average for the last 50 days of trading for this stock 3.28, while it was recorded at 1.51 for the last single week of trading, and 7.91 for the last 200 days.
Fortress Biotech Inc [FBIO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fortress Biotech Inc [FBIO] shares currently have an operating margin of -268.76 and a Gross Margin at +55.26. Fortress Biotech Inc’s Net Margin is presently recorded at -114.30.
Return on Total Capital for FBIO is now -84.77, given the latest momentum, and Return on Invested Capital for the company is -52.05. Return on Equity for this stock declined to -115.13, with Return on Assets sitting at -25.06. When it comes to the capital structure of this company, Fortress Biotech Inc [FBIO] has a Total Debt to Total Equity ratio set at 310.15. Additionally, FBIO Total Debt to Total Capital is recorded at 75.62, with Total Debt to Total Assets ending up at 43.97. Long-Term Debt to Equity for the company is recorded at 274.97, with the Long-Term Debt to Total Capital now at 67.04.
Reflecting on the efficiency of the workforce at the company, Fortress Biotech Inc [FBIO] managed to generate an average of -$462,968 per employee. Receivables Turnover for the company is 2.91 with a Total Asset Turnover recorded at a value of 0.22.Fortress Biotech Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 1.00.
Earnings per share (EPS) analysis for Fortress Biotech Inc [FBIO] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FBIO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortress Biotech Inc go to 25.50%.
Fortress Biotech Inc [FBIO]: Institutional Ownership
The top three institutional holders of FBIO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FBIO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FBIO stock with ownership which is approximately 5.7994%.