GRI Bio (NASDAQ:GRI) Issues Earnings Results

GRI Bio (NASDAQ:GRI) issued its earnings results on Friday. The company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.28, Zacks reports.

GRI Bio Price Performance

Shares of GRI stock opened at $1.67 on Friday. The stock’s 50-day moving average is $1.77 and its 200 day moving average is $2.23. GRI Bio has a 1-year low of $1.36 and a 1-year high of $80.36. The company has a market cap of $2.96 million, a P/E ratio of -0.02 and a beta of -1.21.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GRI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a research note on Friday, July 17th. Ascendiant Capital Markets dropped their price target 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. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.