GRI Bio (NASDAQ:GRI) Price Target Cut to $32.00 by Analysts at Ascendiant Capital Markets

GRI Bio (NASDAQ:GRI) had its price objective decreased by analysts at Ascendiant Capital Markets from $40.00 to $32.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

GRI Bio Stock Performance

Shares of GRI Bio stock opened at $2.06 on Monday. The firm has a 50-day moving average of $2.31 and a 200-day moving average of $11.43. The stock has a market cap of $3.65 million, a PE ratio of -0.03 and a beta of -1.17. GRI Bio has a 52-week low of $1.97 and a 52-week high of $80.36.

GRI Bio (NASDAQ:GRI) last announced its earnings results on Wednesday, May 13th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.01). Equities research analysts predict that GRI Bio will post -5.26 earnings per share for the current fiscal year.

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.