H.C. Wainwright analyst Matthew Keller reiterated a Buy rating on GRI Bio (GRI – Research Report) 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 surrounding GRI Bio’s ongoing clinical developments and promising safety data. The company has recently completed enrollment for a Phase 2a trial of GRI-0621, with an interim analysis set to provide critical biomarker data. This data is crucial for identifying responsive patient subgroups, which could enhance the success of future Phase 3 trials and strengthen the regulatory package.
Additionally, early safety data from the Phase 2a trial is encouraging, showing that GRI-0621 is well-tolerated without significant side effects like hyperlipidemia. The interim analysis committee’s recommendation to continue the study as planned further supports the potential of GRI-0621. These factors, coupled with the drug’s differentiating safety profile compared to existing IPF treatments, underpin Keller’s optimistic outlook and Buy rating for GRI Bio.
In another report released on May 27, Ascendiant also maintained a Buy rating on the stock with a $0.00 price target.