GRI Bio (NASDAQ:GRI) Announces Quarterly Earnings Results

GRI Bio (NASDAQ:GRI) posted its quarterly earnings results on Wednesday. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.70), FiscalAI reports.

GRI Bio Price Performance

Shares of NASDAQ:GRI traded down $0.02 during midday trading on Wednesday, reaching $2.26. 8,959 shares of the company’s stock were exchanged, compared to its average volume of 43,357. The company’s 50 day simple moving average is $2.43 and its two-hundred day simple moving average is $15.43. GRI Bio has a 12 month low of $2.10 and a 12 month high of $80.36.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GRI shares. Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of GRI Bio to a “strong sell” rating in a research report on Saturday, January 31st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GRI Bio presently has an average rating of “Hold” and a consensus target price of $1,008.00.

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.