HC Wainwright Initiates Coverage on GRI Bio (NASDAQ:GRI)

HC Wainwright began coverage on shares of GRI Bio (NASDAQ:GRI) in a research report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $10.00 price target on the stock. HC Wainwright also issued estimates for GRI Bio’s Q4 2024 earnings at ($0.40) EPS, FY2024 earnings at ($3.04) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.68) EPS, FY2027 earnings at ($0.38) EPS and FY2028 earnings at ($0.31) EPS.

Separately, Ascendiant Capital Markets upped their price target on shares of GRI Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, December 5th.

GRI Bio Trading Up 7.0 %

Shares of NASDAQ:GRI opened at 0.93 on Monday. GRI Bio has a 12 month low of 0.30 and a 12 month high of 65.00. The firm’s 50-day moving average is 0.70 and its 200 day moving average is 1.24.

Hedge Funds Weigh In On GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC acquired a new stake in shares of GRI Bio, Inc. (NASDAQ:GRI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned approximately 9.23% of GRI Bio as of its most recent filing with the Securities & Exchange Commission. 33.95% of the stock is owned by institutional investors.

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.