iBio (NASDAQ:IBIO) Posts Earnings Results, Misses Expectations By $0.04 EPS

iBio (NASDAQ:IBIO) posted its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.04), Zacks reports. The company had revenue of $0.10 million during the quarter.

iBio Trading Down 6.0%

Shares of NASDAQ:IBIO traded down $0.08 during midday trading on Thursday, hitting $1.18. The company’s stock had a trading volume of 400,790 shares, compared to its average volume of 2,009,821. iBio has a 12-month low of $0.56 and a 12-month high of $6.89. The company has a market cap of $23.80 million, a P/E ratio of -0.68 and a beta of 0.92.

Analyst Ratings Changes

A number of research firms have recently commented on IBIO. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research note on Tuesday. Wall Street Zen cut iBio from a “hold” rating to a “sell” rating in a research report on Thursday, October 23rd. Finally, Leerink Partnrs raised iBio to a “strong-buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, iBio currently has an average rating of “Moderate Buy”.

About iBio

iBio, Inc, a biotechnology company, provides contract development and manufacturing services to collaborators and third-party customers in the United States. The company operates in two segments: Biopharmaceuticals and Bioprocessing. Its lead therapeutic candidate is IBIO-100 that is being advanced for investigational new drug development for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis.