Brokers Set Expectations for FibroBiologics FY2024 Earnings

FibroBiologics, Inc. (NASDAQ:FBLG) – Research analysts at HC Wainwright upped their FY2024 EPS estimates for shares of FibroBiologics in a report released on Wednesday, November 13th. HC Wainwright analyst M. Caufield now expects that the company will post earnings per share of ($0.35) for the year, up from their prior forecast of ($0.42). HC Wainwright currently has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for FibroBiologics’ current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for FibroBiologics’ Q4 2024 earnings at ($0.10) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at ($0.79) EPS and FY2028 earnings at ($0.77) EPS.

A number of other analysts have also recently weighed in on the stock. EF Hutton Acquisition Co. I upgraded shares of FibroBiologics to a “strong-buy” rating in a research note on Wednesday, September 4th. Maxim Group began coverage on shares of FibroBiologics in a research note on Tuesday, September 24th. They issued a “buy” rating and a $12.00 target price for the company.

FibroBiologics Stock Down 8.8 %

NASDAQ FBLG opened at $2.81 on Friday. The firm’s fifty day moving average price is $3.00 and its 200 day moving average price is $4.99. FibroBiologics has a 12 month low of $1.08 and a 12 month high of $55.00.

Hedge Funds Weigh In On FibroBiologics

A number of large investors have recently made changes to their positions in the stock. Fund Evaluation Group LLC purchased a new position in shares of FibroBiologics in the 2nd quarter valued at about $5,265,000. Cascade Financial Partners LLC purchased a new position in shares of FibroBiologics in the 2nd quarter valued at about $1,572,000. Transform Wealth LLC purchased a new position in FibroBiologics during the 2nd quarter valued at about $668,000. Charles Schwab Investment Management Inc. increased its holdings in FibroBiologics by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 69,732 shares of the company’s stock valued at $215,000 after acquiring an additional 3,451 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in FibroBiologics during the 2nd quarter valued at about $342,000.

FibroBiologics Company Profile

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.