Fortress Biotech Inc. (NASDAQ:FBIO) saw an upside of 7.30% to close Friday at $0.44 after adding $0.03 on the day. The 5-day average trading volume is 856,200 shares of the company’s common stock. It has gained $0.5580 in the past week and touched a new high 1 time within the past 5 days. An average of 667,080 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 657,586.
FBIO’s 1-month performance is -16.29% or -$0.0883 on its low of $0.3920 reached on 08/18/23. The company’s shares have touched a 52-week low of $0.40 and high of $1.24, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, FBIO has lost -33.54% or -$0.2197 and has reached a new high 8 times. However, the current price is down -64.90% from the 52-week high price.
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Valuation Metrics
FBIO stock has a beta of 2.10. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.86 while the price-to-book (PB) in the most recent quarter is 2.56.
Fortress Biotech Inc.’s quick ratio for the period ended June 29 was 0.90, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.53, while the total debt to equity was 3.19. In terms of profitability, the gross margin trailing 12 months is 53.50%. The trailing 12-month EBITDA margin is -256.41%. The firm’s gross profit as reported stood at $44.97 million against revenue of $75.74 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 20.24% to -$26.78 million, while revenue of -$21.54 million was 19.57% off the previous quarter. Analysts expected FBIO to announce -$0.23 per share in earnings in its latest quarter, but it posted -$0.24, representing a -4.30% surprise. EBITDA for the quarter stood at more than -$46.65 million. FBIO stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 196.66 million, with total debt at $84.42 million. Shareholders hold equity totaling $132.79 million.
Let’s look briefly at Fortress Biotech Inc. (FBIO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 30.59% to suggest the stock is trending Neutral, with historical volatility in this time period at 92.03%.
The stock’s 5-day moving average is $0.4710, reflecting a -17.71% or -$0.0937 change from its current price. FBIO is currently trading -29.53% above its 20-day SMA, -41.96% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -21.95% and SMA200 by-47.56%.
Stochastic %K and %D was 10.94% and 16.52% and the average true range (ATR) pointed at 0.0487. The RSI (14) points at 34.71%, while the 14-day stochastic is at 20.82% with the period’s ATR at 0.0483. The stock’s 9-day MACD Oscillator is pointing at -0.0631 and -0.0860 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Fortress Biotech Inc. (NASDAQ: FBIO), Ladenburg Thalmann launched coverage with a Buy rating. Analysts offering their rating for FBIO stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate FBIO as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is FBIO’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.25 and a high of $24.00, with their median price target at $4.10. Looking at these predictions, the average price target given by analysts is for Fortress Biotech Inc. (FBIO) stock is $8.61.
