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

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

Other equities analysts also recently issued research reports about the company. Ascendiant Capital Markets reduced their price objective on 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 restated a “sell (e+)” rating on shares of GRI Bio in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GRI Bio presently has an average rating of “Hold” and an average price target of $21.00.

GRI Bio Trading Up 9.5%

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

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

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.