H.C. Wainwright analyst Matthew Keller reiterated a Buy rating on GRI Bio today and set a price target of $10.00.
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Matthew Keller has given his Buy rating due to a combination of factors related to GRI Bio’s promising developments in their ongoing Phase 2a study of GRI-0621 for idiopathic pulmonary fibrosis (IPF). The interim biomarker data from the study indicates that GRI-0621 has shown a favorable reduction in fibrogenesis biomarkers and a net fibrolytic profile, suggesting potential efficacy in treating fibrosis. Additionally, the study’s Independent Data Monitoring Committee has recommended the continuation of the trial as no safety concerns have been reported, which is a positive indicator for the drug’s development.
Furthermore, Keller highlights the importance of GRI Bio’s extensive biomarker analysis strategy, which includes a comprehensive panel of molecular markers and flow cytometry measures. This approach is critical for identifying patient subgroups that may respond best to the treatment, thereby increasing the chances of success in future Phase 3 trials. The detailed biomarker analysis not only aids in understanding the drug’s mechanism but also strengthens the regulatory package as the trials progress, making GRI Bio a compelling investment opportunity.
Keller covers the Healthcare sector, focusing on stocks such as Iterum Therapeutics, GRI Bio, and Phio Pharmaceuticals. According to TipRanks, Keller has an average return of -12.0% and a 14.29% success rate on recommended stocks.