GRI Bio (GRI – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Matthew Keller from H.C. Wainwright reiterated a Buy rating on the stock and has a $10.00 price target.
Matthew Keller has given his Buy rating due to a combination of factors that highlight the potential of GRI Bio’s ongoing clinical developments. The interim safety data from the Phase 2a study of GRI-0621 in idiopathic pulmonary fibrosis (IPF) patients showed promising results, with the drug being safe and well-tolerated in the initial group of 12 patients. This favorable safety profile, particularly the absence of hyperlipidemia, sets a positive tone for future data readouts and differentiates GRI-0621 from existing IPF treatments that often have concerning side effects.
Furthermore, the structured design of the Phase 2a trial, which includes randomized, double-blind, and placebo-controlled methodologies, is expected to yield comprehensive insights into the drug’s efficacy and safety. The upcoming biomarker data and topline results anticipated in 2025 are crucial milestones that could further validate GRI-0621’s clinical and commercial potential. Keller’s recommendation reflects confidence in the trial’s ability to de-risk future developments and the strategic approach of GRI Bio in advancing its therapeutic candidate.