Having had about two weeks to digest Fortress Biotech's Q3 2023 earnings report, released on 2023/11/14, Henry cut their price target. The company's quarterly results met expectations, and its Journey dermatology unit is gaining significance as a "valuable asset," the analyst told investors.
Henry said that Fortress Biotech's pipeline is still active and expects "two potential filings" within the next six months but that the stock's current valuation "considers only a few anticipated future successes."
The consensus forecast among analysts is that FBIO's upcoming year will deliver earnings per share (EPS) of $8.31. If the analysts are right, FBIO's next yearly EPS will be up by 92.7% on a year-over-year basis.
Since FBIO's latest quarterly report on 2023/11/15, the stock price is up 41.3%. Year-over-year, the stock is down 81.3%. During that period, FBIO is trailing the S&P 500, which is down 14.8%.
Roth MKM analyst Scott Henry is ranked by WallStreetZen in the bottom 11% out of 4,414 Wall Street analysts, with an average return of -12% and a 25.6% win rate. They specialize in the Healthcare sector.
Fortress Biotech, Inc., a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of non-nodular moderate to severe acne vulgaris; Targadox for severe acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; and Accutane capsules for severe recalcitrant nodular acne.
It also develops late-stage product candidates, such as intravenous Tramadol for the treatment of post-operative acute pain; CUTX-101, an injection for the treatment of Menkes disease; MB-107 and MB-207 for the treatment of X-linked severe combined immunodeficiency; Cosibelimab for metastatic cancers; CK-101 for the treatment of patients with EGFR mutation-positive NSCLC; CAEL-101 for the treatment of amyloid light chain amyloidosis; Triplex vaccine for cytomegalovirus; and CEVA101 for the treatment of severe traumatic brain injury in adults and children.
The company's early-stage product candidates include MB-102 for blastic plasmacytoid dendritic cell neoplasm; MB-101 for glioblastoma; MB-104 for multiple myeloma and light chain amyloidosis; MB-106 for B-cell non-Hodgkin lymphoma; MB-103 for GBM & metastatic breast cancer to the brain; MB-108; MB-105 for prostate and pancreatic cancers; and BAER-101.
Its preclinical product candidates comprise AAV-ATP7A gene therapy; AVTS-001 gene therapy; CK-103 BET inhibitor; CEVA-D and CEVA-102; CK-302, an anti-GITR; CK-303, an anti-CAIX; ConVax; and ONCOlogues and oligonucleotide platform.
Fortress Biotech has collaboration arrangements with universities, research institutes, and pharmaceutical companies. The company was formerly known as Coronado Biosciences, Inc. and changed its name to Fortress Biotech, Inc. in April 2015. Fortress Biotech, Inc. was incorporated in 2006 and is based in Bay Harbor Island, New York.
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