GRI Bio (NASDAQ:GRI) Trading 6.5% Higher – Should You Buy?

GRI Bio, Inc. (NASDAQ:GRI) was up 6.5% during trading on Thursday . The stock traded as high as $1.99 and last traded at $1.96. Approximately 87,710 shares were traded during trading, a decline of 24% from the average daily volume of 116,027 shares. The stock had previously closed at $1.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GRI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GRI Bio in a research report on Tuesday, April 21st. Ascendiant Capital Markets dropped their target price on shares of GRI Bio from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, June 1st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.00.

GRI Bio Price Performance

The company has a fifty day moving average price of $2.20 and a two-hundred day moving average price of $4.51. The company has a market capitalization of $3.47 million, a P/E ratio of -0.03 and a beta of -1.17.

GRI Bio (NASDAQ:GRI) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.01). As a group, sell-side analysts forecast that GRI Bio, Inc. will post -4.77 earnings per share for the current year.

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.