FY2024 Earnings Estimate for GRI Bio Issued By HC Wainwright

GRI Bio, Inc. (NASDAQ:GRI) – Stock analysts at HC Wainwright issued their FY2024 earnings estimates for shares of GRI Bio in a research report issued to clients and investors on Monday, December 9th. HC Wainwright analyst M. Keller forecasts that the company will earn ($3.04) per share for the year. HC Wainwright has a “Buy” rating and a $10.00 price target on the stock. HC Wainwright also issued estimates for GRI Bio’s Q4 2024 earnings at ($0.40) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.68) EPS, FY2027 earnings at ($0.38) EPS and FY2028 earnings at ($0.31) EPS.

Separately, Ascendiant Capital Markets lifted their price objective on GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th.

GRI Bio Stock Performance

Shares of GRI Bio stock opened at 0.97 on Tuesday. The stock’s 50 day simple moving average is 0.72 and its 200-day simple moving average is 1.22. GRI Bio has a 1-year low of 0.30 and a 1-year high of 65.00.

Institutional Investors Weigh In On GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC bought a new stake in GRI Bio, Inc. (NASDAQ:GRI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned 9.23% of GRI Bio at the end of the most recent quarter. 33.95% of the stock is currently owned by institutional investors.

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.