FY2024 EPS Estimates for FibroBiologics Lifted by Analyst

FibroBiologics, Inc. (NASDAQ:FBLG) – Research analysts at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for shares of FibroBiologics in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst M. Caufield now expects that the company will post earnings per share of ($0.35) for the year, up from their prior forecast of ($0.42). HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for FibroBiologics’ current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for FibroBiologics’ Q4 2024 earnings at ($0.10) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at ($0.79) EPS and FY2028 earnings at ($0.77) EPS.

Other research analysts have also recently issued reports about the company. Maxim Group initiated coverage on FibroBiologics in a research note on Tuesday, September 24th. They issued a “buy” rating and a $12.00 target price for the company. EF Hutton Acquisition Co. I raised FibroBiologics to a “strong-buy” rating in a research note on Wednesday, September 4th.

FibroBiologics Trading Down 8.2 %

Shares of NASDAQ:FBLG opened at $2.58 on Friday. The company has a 50 day moving average of $3.02 and a 200-day moving average of $4.98. FibroBiologics has a one year low of $1.08 and a one year high of $55.00.

Institutional Trading of FibroBiologics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fund Evaluation Group LLC acquired a new stake in shares of FibroBiologics during the 2nd quarter worth approximately $5,265,000. Cascade Financial Partners LLC bought a new stake in FibroBiologics during the second quarter worth $1,572,000. ERn Financial LLC acquired a new stake in shares of FibroBiologics in the 2nd quarter valued at $159,000. Bank of New York Mellon Corp bought a new position in shares of FibroBiologics in the 2nd quarter valued at $342,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of FibroBiologics during the 2nd quarter worth $51,000.

About FibroBiologics

FibroBiologics, Inc operates as a cell therapy, regenerative medicine company. It is developing a pipeline of treatments and potential cures for chronic diseases using fibroblast cells and fibroblast-derived materials. It holds 150+ U.S. and internationally issued patents/patents pending across various clinical pathways, including disc degeneration, orthopedics, multiple sclerosis, psoriasis, wound healing, reversing organ involution, and cancer.