FibroBiologics (NASDAQ:FBLG) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of FibroBiologics (NASDAQ:FBLG) to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts also recently commented on FBLG. Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $73.00.

FibroBiologics Stock Performance

Shares of FibroBiologics stock opened at $1.13 on Friday. The firm has a market cap of $7.53 million, a P/E ratio of -0.22 and a beta of 1.72. The firm’s 50-day simple moving average is $1.34 and its 200-day simple moving average is $1.29. FibroBiologics has a twelve month low of $0.62 and a twelve month high of $9.99.

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