FibroBiologics Inc. (NASDAQ:FBLG) Stock Now Rated “Reduce” by Wall Street Analysts

Shares of FibroBiologics Inc. (NASDAQ:FBLG) have been assigned an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $73.00.

Several brokerages have recently commented on FBLG. Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. HC Wainwright reiterated a “buy” rating and set a $6.00 target price (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft downgraded shares of FibroBiologics to an “underperform” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th.

FibroBiologics Price Performance

Shares of NASDAQ:FBLG opened at $1.39 on Wednesday. The business’s 50 day moving average is $1.24 and its 200 day moving average is $1.60. The stock has a market cap of $9.26 million, a P/E ratio of -0.27 and a beta of 1.65. FibroBiologics has a 52-week low of $0.62 and a 52-week high of $12.40.

FibroBiologics (NASDAQ:FBLG) last issued 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, sell-side analysts anticipate that FibroBiologics will post -3 EPS for the current fiscal year.

FibroBiologics Company Profile

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. The company’s research focuses on fibroblasts, a type of cell involved in tissue maintenance and repair, and the biologically active factors and extracellular vesicles that these cells produce.

FibroBiologics is developing a proprietary platform intended to generate therapeutic products from fibroblast-derived cells and their secretions. Its pipeline is aimed at conditions associated with tissue damage, inflammation, and impaired regeneration, including multiple sclerosis, psoriasis, and degenerative disc disease.