GRI Bio (NASDAQ:GRI) Announces Earnings Results

GRI Bio (NASDAQ:GRI) announced its earnings results on Friday. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.17), FiscalAI reports.

GRI Bio Price Performance

Shares of GRI Bio stock remained flat at $1.69 on Friday. The company’s stock had a trading volume of 82,142 shares, compared to its average volume of 160,979. The company has a market cap of $4.26 million, a P/E ratio of -0.09 and a beta of -1.45. The company’s 50 day moving average price is $1.88 and its two-hundred day moving average price is $1.64. GRI Bio has a twelve month low of $1.10 and a twelve month high of $16.92.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research note on Wednesday, October 8th. Ascendiant Capital Markets increased their target price on GRI Bio from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.50.

About GRI Bio

GRI Bio, Inc, a clinical-stage biopharmaceutical company, focuses on treating inflammatory, fibrotic, and autoimmune diseases in the United States. Its product pipeline comprises GRI-0621, which is in phase II clinical development for the treatment of idiopathic pulmonary fibrosis; GRI-0803 which is in phase I trial for the treatment of systematic lupus erythematosus; GRI-0124, which is in pre-clinical development for the treatment of primary sclerosing cholangitis; and GRI-0729 in pre-clinical development.