iBio, Inc. (NASDAQ:IBIO) Receives Average Rating of “Buy” from Analysts

iBio, Inc. (NASDAQ:IBIO) has earned a consensus recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.00.

Several equities research analysts have recently commented on IBIO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a report on Wednesday, June 24th. Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of iBio in a research note on Thursday, July 2nd. B. Riley Financial assumed coverage on iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 price objective on the stock. Raymond James Financial began coverage on shares of iBio in a research note on Monday, June 8th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Wall Street Zen upgraded shares of iBio from a “sell” rating to a “hold” rating in a report on Saturday, September 5th.

iBio Stock Performance

Shares of NASDAQ:IBIO opened at $1.26 on Thursday. iBio has a one year low of $0.77 and a one year high of $3.82. The stock has a fifty day moving average of $1.42 and a 200-day moving average of $1.78. The company has a market capitalization of $81.03 million, a PE ratio of -3.71 and a beta of 1.29.

iBio (NASDAQ:IBIO) last issued its earnings results on Friday, August 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. As a group, research analysts forecast that iBio will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On iBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP acquired a new stake in iBio during the 3rd quarter valued at $37,000. XTX Topco Ltd acquired a new stake in shares of iBio in the fourth quarter worth $71,000. Persistent Asset Partners Ltd purchased a new position in shares of iBio during the fourth quarter valued at $76,000. Headlands Technologies LLC grew its holdings in shares of iBio by 333.0% during the second quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock valued at $83,000 after buying an additional 36,463 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in iBio during the third quarter valued at $109,000. Institutional investors and hedge funds own 7.90% of the company’s stock.

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. The company is also developing vaccine candidates comprising IBIO-200 and IBIO-201, which are in preclinical development for the prevention of severe acute respiratory syndrome coronavirus 2; and IBIO-400 for the treatment of classical swine fever.