Fortress Biotech Inc reports results for the quarter ended in June - Earnings Summary

Fortress Biotech

15/08/2024 05:16

* Fortress Biotech Inc  FBIO.OQ  reported a quarterly
adjusted
loss of 73 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of $-3.60.  The mean expectation of three analysts
for the quarter was for a loss of $1.22 per share. Wall Street
expected results to range from $-1.75 to -88 cents per share.
    * Revenue fell 14.3% to $14.90 million from a year ago;
analysts
expected $14.77 million. 
    * Fortress Biotech Inc's reported EPS for the quarter was a
loss
of 73 cents​.
    * The company reported a quarterly loss of $13.34 million.
    * Fortress Biotech Inc shares had risen by 7.0% this
quarter and
lost 39.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
pharmaceuticals
peer group is also "buy"

Wall Street's median 12-month price target for Fortress Biotech
Inc is $13.00 
This summary was machine generated from LSEG data August 15 at
04:16 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -1.22          -0.73          Beat
 Mar. 31 2024      -1.73          -1.03          Beat
 Dec. 31 2023      -1.97          -1.28          Beat
 Sep. 30 2023      -3.21          -0.94          Beat