FibroBiologics (NASDAQ:FBLG) Releases Earnings Results, Beats Expectations By $0.01 EPS

FibroBiologics (NASDAQ:FBLG) posted its quarterly earnings data on Monday. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01, Zacks reports.

FibroBiologics Trading Up 3.0 %

NASDAQ:FBLG traded up $0.03 during trading hours on Wednesday, reaching $0.89. 26,664 shares of the stock were exchanged, compared to its average volume of 275,445. FibroBiologics has a twelve month low of $0.86 and a twelve month high of $13.59. The firm has a 50 day moving average of $1.28 and a 200 day moving average of $2.14.

Wall Street Analysts Forecast Growth

FBLG has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of FibroBiologics in a research note on Tuesday. Rodman & Renshaw started coverage on shares of FibroBiologics in a research report on Thursday, December 12th. They set a “buy” rating and a $12.00 price target for the company. Finally, D. Boral Capital reissued a “buy” rating and issued a $16.00 price target on shares of FibroBiologics in a research note on Tuesday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.00.

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.