GRI Bio (NASDAQ:GRI) Receives Buy Rating from HC Wainwright

GRI Bio (NASDAQ:GRI)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 407.36% from the stock’s current price.

A number of other brokerages have also issued reports on GRI. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research report on Friday, July 17th. Ascendiant Capital Markets cut their price target on shares of GRI Bio from $40.00 to $32.00 and set a “buy” rating for the company in a report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.00.

GRI Bio Stock Up 9.5%

Shares of NASDAQ:GRI traded up $0.17 during trading on Thursday, reaching $1.97. 165,814 shares of the company’s stock traded hands, compared to its average volume of 278,513. GRI Bio has a fifty-two week low of $1.36 and a fifty-two week high of $80.36. The company has a 50-day simple moving average of $1.75 and a 200-day simple moving average of $2.10. The firm has a market cap of $4.32 million, a PE ratio of -0.05 and a beta of -1.24.

GRI Bio (NASDAQ:GRI) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.28. On average, equities research analysts forecast that GRI Bio will post -4.27 EPS for the current year.

GRI Bio Company Profile

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.