GRI Bio (NASDAQ:GRI) Price Target Cut to $32.00 by Analysts at Ascendiant Capital Markets

GRI Bio (NASDAQ:GRI) had its price target cut by research analysts at Ascendiant Capital Markets from $40.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GRI Bio has a consensus rating of “Hold” and an average price target of $32.00.

GRI Bio Stock Performance

GRI stock opened at $2.06 on Monday. The stock has a market capitalization of $3.65 million, a P/E ratio of -0.03 and a beta of -1.17. GRI Bio has a 12 month low of $1.97 and a 12 month high of $80.36. The firm has a 50-day moving average price of $2.31 and a 200-day moving average price of $11.43.

GRI Bio (NASDAQ:GRI) last posted its earnings results on Wednesday, May 13th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.01). As a group, equities analysts predict that GRI Bio will post -5.26 EPS 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.