Oppenheimer Begins Coverage on iBio (NYSE:IBIO)

Equities researchers at Oppenheimer assumed coverage on shares of iBio (NYSE:IBIO) in a research report issued on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $5.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 259.71% from the company’s previous close.

IBIO has been the subject of several other reports. Leerink Partners started coverage on iBio in a research report on Friday, October 17th. They set an “outperform” rating and a $2.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of iBio in a research report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, iBio has an average rating of “Buy” and an average target price of $4.00.

iBio Price Performance

Shares of NYSE IBIO opened at $1.39 on Tuesday. The company has a fifty day moving average price of $0.84 and a 200 day moving average price of $0.84. The firm has a market cap of $28.15 million, a PE ratio of -0.80 and a beta of 0.89. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.05. iBio has a 1-year low of $0.56 and a 1-year high of $6.89.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in iBio stock. Iridian Asset Management LLC CT bought a new stake in iBio, Inc. (NYSE:IBIO) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 58,205 shares of the company’s stock, valued at approximately $234,000. Iridian Asset Management LLC CT owned 0.59% of iBio as of its most recent filing with the SEC. 7.90% of the stock is owned by institutional investors.

About iBio

iBio, Inc, a biotechnology company, engages in the development of precision antibodies in the United States. It offers IBIO-100, a preclinical anti-fibrotic program for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis; and EngageTx platform, which provides an optimized CD3 T-cell engager antibody panel.