Brokers Set Expectations for FibroBiologics FY2024 Earnings

FibroBiologics, Inc. (NASDAQ:FBLG) – Investment analysts at HC Wainwright raised their FY2024 EPS estimates for FibroBiologics in a report issued on Wednesday, November 13th. HC Wainwright analyst M. Caufield now forecasts that the company will post earnings per share of ($0.35) for the year, up from their prior estimate of ($0.42). HC Wainwright currently has a “Buy” rating and a $12.00 target price 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.

Other equities analysts have also issued reports about the stock. EF Hutton Acquisition Co. I raised shares of FibroBiologics to a “strong-buy” rating in a report 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 Price Performance

Shares of FBLG stock opened at $2.81 on Friday. The company’s 50 day moving average is $3.00 and its 200 day moving average is $4.99. FibroBiologics has a 52-week low of $1.08 and a 52-week high of $55.00.

Institutional Trading of FibroBiologics

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in FibroBiologics during the third quarter worth about $32,000. Mercer Global Advisors Inc. ADV acquired a new position in FibroBiologics in the 2nd quarter valued at about $51,000. Cahaba Wealth Management Inc. acquired a new position in FibroBiologics in the 2nd quarter valued at about $73,000. Saxon Interests Inc. acquired a new position in FibroBiologics in the 2nd quarter valued at about $106,000. Finally, Rhumbline Advisers acquired a new position in FibroBiologics in the 2nd quarter valued at about $115,000.

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.