FibroBiologics Inc. (NASDAQ:FBLG) Stock Now Rated “Reduce” by Wall Street Brokerages

FibroBiologics Inc. (NASDAQ:FBLG) has earned a consensus rating of “Reduce” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $73.00.

FBLG has been the topic of a number of recent analyst reports. Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings raised FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a research report on Tuesday, August 4th.

FibroBiologics Price Performance

FibroBiologics stock opened at $1.31 on Wednesday. FibroBiologics has a one year low of $0.62 and a one year high of $12.40. The company’s fifty day moving average price is $1.27 and its two-hundred day moving average price is $1.52. The company has a market capitalization of $8.72 million, a price-to-earnings ratio of -0.25 and a beta of 1.65.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings results on Friday, July 31st. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.27. As a group, sell-side analysts anticipate that FibroBiologics will post -3 earnings per share for the current year.

FibroBiologics Company Profile

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. The company’s research focuses on fibroblasts, a type of cell involved in tissue maintenance and repair, and the biologically active factors and extracellular vesicles that these cells produce.

FibroBiologics is developing a proprietary platform intended to generate therapeutic products from fibroblast-derived cells and their secretions. Its pipeline is aimed at conditions associated with tissue damage, inflammation, and impaired regeneration, including multiple sclerosis, psoriasis, and degenerative disc disease.