Stocks of Fortress Biotech Inc. (FBIO) are poised to climb above their peers

Fortress Biotech Inc. (NASDAQ: FBIO) stock fell -3.98% on Monday to $0.99 against a previous-day closing price of $1.03. With 0.69 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.39 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.0715 whereas the lowest price it dropped to was $0.9702. The 52-week range on FBIO shows that it touched its highest point at $2.31 and its lowest point at $0.48 during that stretch. It currently has a 1-year price target of $8.50. Beta for the stock currently stands at 1.87.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FBIO was up-trending over the past week, with a rise of 12.16%, but this was up by 83.15% over a month. Three-month performance surged to 39.41% while six-month performance rose 4.09%. The stock lost -52.90% in the past year, while it has gained 50.99% so far this year. A look at the trailing 12-month EPS for FBIO yields -1.05 with Next year EPS estimates of -0.87. For the next quarter, that number is -0.22. This implies an EPS growth rate of -22.60% for this year and 3.30% for next year. EPS is expected to grow by 25.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.50%.

Float and Shares Shorts:

At present, 89.42 million FBIO shares are outstanding with a float of 79.77 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.59 million, which was 0.55% higher than short shares on Sep 14, 2022. In addition to Dr. Lindsay Allan Rosenwald as the firm’s Exec. Chairman, Pres & CEO, Mr. Michael S. Weiss Esq. serves as its Vice Chairman & Exec. Vice Chairman of Strategic Devel.

Institutional Ownership:

Through their ownership of 30.74% of FBIO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.57% of FBIO, in contrast to 29.89% held by mutual funds. Shares owned by individuals account for 21.72%. As the largest shareholder in FBIO with 7.61% of the stake, Nantahala Capital Management LLC holds 8,263,052 shares worth 8,263,052. A second-largest stockholder of FBIO, The Vanguard Group, Inc., holds 5,074,255 shares, controlling over 4.67% of the firm’s shares. Tang Capital Management LLC is the third largest shareholder in FBIO, holding 4,194,483 shares or 3.86% stake. With a 1.98% stake in FBIO, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,146,747 shares are owned by the mutual fund manager. The Vanguard Explorer Fund, which owns about 1.60% of FBIO stock, is the second-largest Mutual Fund holder. It holds 1,732,308 shares valued at 1.13 million. FCP Medical – BioHealth holds 1.21% of the stake in FBIO, owning 1,313,868 shares worth 0.86 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FBIO since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FBIO analysts setting a high price target of $6.00 and a low target of $2.50, the average target price over the next 12 months is $5.10. Based on these targets, FBIO could surge 506.06% to reach the target high and rise by 152.53% to reach the target low. Reaching the average price target will result in a growth of 415.15% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FBIO will report FY 2022 earnings on 03/25/2024. Analysts have provided yearly estimates in a range of -$0.83 being high and -$0.97 being low. For FBIO, this leads to a yearly average estimate of -$0.90. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Fortress Biotech Inc. surprised analysts by $0.02 when it reported -$0.25 EPS against a consensus estimate of -$0.27. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.15 and the low estimate is -$0.29. The average estimate for the next quarter is thus -$0.22.

Summary of Insider Activity:

Insiders traded FBIO stock several times over the past three months with 14 Buys and 0 Sells. In these transactions, 4,478,588 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 4,582,852 while 0 shares were sold.

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