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

GRI Bio (NASDAQ:GRI) issued its earnings results on Friday. The company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.29, Zacks reports.

GRI Bio Trading Down 5.6%

NASDAQ:GRI traded down $0.10 during midday trading on Friday, hitting $1.67. 105,236 shares of the company were exchanged, compared to its average volume of 238,737. The company has a fifty day simple moving average of $1.77 and a 200 day simple moving average of $2.23. GRI Bio has a fifty-two week low of $1.36 and a fifty-two week high of $80.36. The company has a market capitalization of $2.96 million, a PE ratio of -0.02 and a beta of -1.21.

Wall Street Analysts Forecast Growth

GRI has been the topic of a number of analyst reports. Ascendiant Capital Markets cut their price target on GRI Bio from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, GRI Bio currently has a consensus rating of “Hold” and a consensus price target 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.