Wall Street Zen Downgrades GRI Bio (NASDAQ:GRI) to Strong Sell

GRI Bio (NASDAQ:GRI) was downgraded by research analysts at Wall Street Zen to a “strong sell” rating in a research note issued to investors on Saturday.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research note on Thursday, January 22nd. Ascendiant Capital Markets lifted their price objective on GRI Bio from $980.00 to $1,008.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GRI Bio has a consensus rating of “Hold” and an average price target of $644.00.

GRI Bio Price Performance

GRI opened at $3.26 on Friday. The stock has a 50-day moving average price of $19.38 and a 200-day moving average price of $38.64. The firm has a market cap of $1.63 million, a PE ratio of -0.39 and a beta of -1.39. GRI Bio has a 1 year low of $3.16 and a 1 year high of $316.44.

GRI Bio (NASDAQ:GRI) last released its quarterly earnings data on Friday, November 14th. The company reported ($35.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($31.08) by ($4.76). As a group, sell-side analysts anticipate that GRI Bio will post -3.04 EPS for the current year.

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.