FibroBiologics Inc. (NASDAQ:FBLG) Stock Has Average Target Price of $73.00

FibroBiologics Inc. (NASDAQ:FBLG) has received a consensus rating of “Reduce” from the five research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $73.00.

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. Wall Street Zen upgraded FibroBiologics to a “hold” rating in a report on Saturday, October 10th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 target price (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th.

Institutional Investors Weigh In On FibroBiologics

A hedge fund recently bought a new stake in FibroBiologics stock. IFP Advisors Inc bought a new position in FibroBiologics Inc. (NASDAQ:FBLG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,000 shares of the company’s stock, valued at approximately $35,000. IFP Advisors Inc owned 0.41% of FibroBiologics at the end of the most recent reporting period.

FibroBiologics Stock Performance

FBLG opened at $1.02 on Friday. The firm’s fifty day moving average is $1.34 and its 200 day moving average is $1.14. FibroBiologics has a fifty-two week low of $0.62 and a fifty-two week high of $9.60. The stock has a market cap of $6.79 million, a price-to-earnings ratio of -0.20 and a beta of 1.72.

FibroBiologics (NASDAQ:FBLG) last announced its earnings results on Friday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.27. On average, equities research analysts predict that FibroBiologics will post -3.00 earnings per share for the current year.

About FibroBiologics

FibroBiologics, Inc (NASDAQ:FBLG) is a clinical-stage biotechnology company developing cell-based and cell-free therapies for chronic diseases. The company’s research centers on fibroblasts, a type of connective-tissue cell, and the biologically active materials they produce, including exosomes and other factors that may influence immune responses, tissue repair, and regeneration.

FibroBiologics is investigating its platform for potential applications in conditions such as psoriasis, multiple sclerosis, and degenerative disc disease.