GRI Bio (NASDAQ:GRI) Announces Quarterly Earnings Results, Beats Expectations By $0.29 EPS

GRI Bio (NASDAQ:GRI) released its quarterly earnings data on Friday. The company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.29, Zacks reports.

GRI Bio Stock Performance

Shares of GRI stock traded down $0.10 during trading hours on Friday, reaching $1.67. The company had a trading volume of 105,236 shares, compared to its average volume of 238,737. The business has a fifty day moving average price of $1.77 and a 200-day moving average price of $2.23. GRI Bio has a one year low of $1.36 and a one year high of $80.36. The firm has a market cap of $2.96 million, a PE ratio of -0.02 and a beta of -1.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GRI. Ascendiant Capital Markets decreased their price objective on shares of GRI Bio from $40.00 to $32.00 and set a “buy” rating for the company in a report on Monday, June 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.00.

GRI Bio Company Profile

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.