GRI Bio (NASDAQ:GRI – Get Free Report) posted its quarterly earnings results on Friday. The company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.28, Zacks reports.
GRI Bio Price Performance
GRI Bio stock opened at $1.67 on Friday. The business has a 50 day moving average of $1.77 and a 200-day moving average of $2.23. The company has a market capitalization of $2.96 million, a P/E ratio of -0.02 and a beta of -1.21. GRI Bio has a 1 year low of $1.36 and a 1 year high of $80.36.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GRI. Ascendiant Capital Markets cut their target price on shares of GRI Bio from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, GRI Bio has a consensus rating of “Hold” and a consensus target price of $32.00.
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.
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