GRI Bio (NASDAQ:GRI) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright began coverage on shares of GRI Bio (NASDAQ:GRI) in a research report sent to investors on Monday, MarketBeat reports. The firm issued 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, FY2024 earnings at ($3.04) 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 raised their target price on GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, December 5th.

GRI Bio Price Performance

NASDAQ GRI opened at 0.97 on Monday. GRI Bio has a 52 week low of 0.30 and a 52 week high of 65.00. The stock has a fifty day moving average of 0.72 and a 200-day moving average of 1.22.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC bought a new stake in GRI Bio, Inc. (NASDAQ:GRI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned 9.23% of GRI Bio as of its most recent filing with the SEC. Hedge funds and other institutional investors own 33.95% of the company’s stock.

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.