Fortress Biotech Inc’s (NASDAQ: FBIO) Stock’s Potential for Future Price Increase

In the latest trading session, 2.49 million Fortress Biotech Inc (NASDAQ:FBIO) shares changed hands as the company’s beta touched 2.05. With the company’s most recent per share price at $2.49 changing hands around $0.4 or 19.37% at last look, the market valuation stands at $22.30M. FBIO’s current price is a discount, trading about -598.8% off its 52-week high of $17.40. The share price had its 52-week low at $1.24, which suggests the last value was 50.2% up since then. When we look at Fortress Biotech Inc’s average trading volume, we note the 10-day average is 1.31 million shares, with the 3-month average coming to 248.24K.

Analysts gave the Fortress Biotech Inc (FBIO) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.40. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended FBIO as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Fortress Biotech Inc’s EPS for the current quarter is expected to be -$3.16.

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Fortress Biotech Inc (NASDAQ:FBIO) trade information

Instantly FBIO is in green as seen in intraday trades today. With action 86.19%, the performance over the past five days has been green. The jump to weekly highs of 2.59 on Friday, 11/17/23 added 19.37% to the stock’s daily price. The company’s shares are showing year-to-date downside of -74.61%, with the 5-day performance at 86.19% in the green. However, in the 30-day time frame, Fortress Biotech Inc (NASDAQ:FBIO) is 34.13% up. Looking at the short shares, we see there were 0.17 million shares sold at short interest cover period of 2.22 days.

The consensus price target for the stock as assigned by Wall Street analysts is $33.33, meaning bulls need an upside of 92.53% from its recent market value. According to analyst projections, FBIO’s forecast low is $10.00 with $60.00 as the target high. To hit the forecast high, the stock’s price needs a -2309.64% plunge from its current level, while the stock would need to soar -301.61% for it to hit the projected low.

Fortress Biotech Inc (FBIO) estimates and forecasts

Data shows that the Fortress Biotech Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -68.61% over the past 6 months, a 9.83% in annual growth rate that is considerably lower than the industry average of 14.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Fortress Biotech Inc will rise 29.10%, while the growth in revenue is estimated to hit 4.80% for the next quarter. Year-over-year growth is forecast to reach -18.00% down from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $17.9 million. 1 analysts are of the opinion that Fortress Biotech Inc’s revenue for the quarter ending Mar 2024 will be $21.5 million. The company’s revenue for the corresponding quarters a year ago was $16.4 million and $12.43 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.10%. The estimates for the next quarter sales put growth at 73.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 9.51%. The 2023 estimates are for Fortress Biotech Inc earnings to increase by 13.66%, but the outlook for the next 5-year period is at 25.50% per year.

FBIO Dividends

Fortress Biotech Inc is expected to release its next quarterly earnings report on November 14.

Fortress Biotech Inc (NASDAQ:FBIO)’s Major holders

Shikiar Asset Management, Inc. holds the second largest percentage of outstanding shares, with 12.81% or 1.15 million shares worth $2.72 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Explorer Fund, Inc. With 0.14 million shares estimated at $0.34 million under it, the former controlled 1.60% of total outstanding shares. On the other hand, Vanguard Explorer Fund, Inc. held about 1.29% of the shares, roughly 0.12 million shares worth around $0.27 million.

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