FibroBiologics (NASDAQ:FBLG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of FibroBiologics (NASDAQ:FBLG) to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Other analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th. Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $73.00.

FibroBiologics Price Performance

NASDAQ:FBLG opened at $1.00 on Friday. The firm has a market capitalization of $6.66 million, a P/E ratio of -0.19 and a beta of 1.72. FibroBiologics has a one year low of $0.62 and a one year high of $9.65. The company’s 50-day simple moving average is $1.35 and its 200 day simple moving average is $1.24.

FibroBiologics (NASDAQ:FBLG) last announced its earnings results on Friday, July 31st. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.27. On average, equities research analysts expect that FibroBiologics will post -3.00 earnings per share for the current fiscal year.

About FibroBiologics

FibroBiologics, Inc (NASDAQ:FBLG) is a clinical-stage biotechnology company developing cell-based and cell-free therapies for chronic diseases. The company’s research centers on fibroblasts, a type of connective-tissue cell, and the biologically active materials they produce, including exosomes and other factors that may influence immune responses, tissue repair, and regeneration.

FibroBiologics is investigating its platform for potential applications in conditions such as psoriasis, multiple sclerosis, and degenerative disc disease.