iBio, Inc. (NASDAQ:IBIO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of iBio, Inc. (NASDAQ:IBIO) have received a consensus rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.00.

A number of research firms have commented on IBIO. B. Riley Financial assumed coverage on iBio in a research report on Friday, June 5th. They set a “buy” rating and a $6.00 price target for the company. Wall Street Zen lowered iBio from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Raymond James Financial began coverage on iBio in a report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of iBio in a research note on Thursday, July 2nd.

iBio Stock Up 4.0%

NASDAQ:IBIO opened at $1.31 on Thursday. The firm has a market capitalization of $65.08 million, a P/E ratio of -3.85 and a beta of 1.29. The company has a fifty day moving average of $1.46 and a 200 day moving average of $1.81. iBio has a 52 week low of $0.77 and a 52 week high of $3.82.

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

Hedge Funds Weigh In On iBio

Several hedge funds and other institutional investors have recently modified their holdings of IBIO. Susquehanna International Group LLP bought a new position in iBio in the third quarter worth about $37,000. XTX Topco Ltd bought a new stake in iBio during the 4th quarter valued at approximately $71,000. Persistent Asset Partners Ltd bought a new stake in iBio during the 4th quarter valued at approximately $76,000. Headlands Technologies LLC grew its holdings in shares of iBio by 333.0% during the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock worth $83,000 after acquiring an additional 36,463 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of iBio during the 3rd quarter worth approximately $109,000. Hedge funds and other institutional investors own 7.90% of the company’s stock.

iBio Company Profile

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.