FibroBiologics (NASDAQ:FBLG) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

FibroBiologics (NASDAQ:FBLG) announced its earnings results on Monday. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01, Zacks reports.

FibroBiologics Trading Up 4.3 %

Shares of FBLG traded up $0.04 during mid-day trading on Wednesday, reaching $0.90. The company had a trading volume of 47,686 shares, compared to its average volume of 287,611. FibroBiologics has a twelve month low of $0.86 and a twelve month high of $13.59. The company’s 50-day moving average is $1.28 and its 200-day moving average is $2.14.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FBLG shares. D. Boral Capital restated a “buy” rating and set a $16.00 price objective on shares of FibroBiologics in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of FibroBiologics in a research report on Tuesday. Finally, Rodman & Renshaw initiated coverage on FibroBiologics in a research report on Thursday, December 12th. They set a “buy” rating and a $12.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, FibroBiologics currently has a consensus rating of “Buy” and a consensus price target of $13.00.

FibroBiologics Company Profile

FibroBiologics, Inc operates as a cell therapy, regenerative medicine company. It is developing a pipeline of treatments and potential cures for chronic diseases using fibroblast cells and fibroblast-derived materials. It holds 150+ U.S. and internationally issued patents/patents pending across various clinical pathways, including disc degeneration, orthopedics, multiple sclerosis, psoriasis, wound healing, reversing organ involution, and cancer.