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

iBio, Inc. (NASDAQ:IBIO) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $4.75.

IBIO has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Monday, December 29th. JonesTrading initiated coverage on shares of iBio in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 target price on the stock. Lifesci Capital raised shares of iBio to a “strong-buy” rating in a research note on Thursday, December 18th. Wall Street Zen upgraded shares of iBio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Chardan Capital reiterated a “buy” rating and issued a $5.00 price target on shares of iBio in a research note on Wednesday.

Hedge Funds Weigh In On iBio

Large investors have recently bought and sold shares of the company. PFG Investments LLC acquired a new stake in shares of iBio during the fourth quarter valued at about $41,000. XTX Topco Ltd acquired a new position in shares of iBio in the fourth quarter valued at approximately $71,000. Persistent Asset Partners Ltd acquired a new position in shares of iBio in the fourth quarter valued at approximately $76,000. Susquehanna International Group LLP bought a new position in iBio in the 3rd quarter valued at approximately $37,000. Finally, Cubist Systematic Strategies LLC bought a new position in iBio in the 1st quarter valued at approximately $224,000. 7.90% of the stock is currently owned by institutional investors.

iBio Stock Performance

iBio stock opened at $2.19 on Thursday. iBio has a 12-month low of $0.56 and a 12-month high of $4.99. The company has a 50-day simple moving average of $2.40. The company has a market capitalization of $75.64 million, a PE ratio of -2.19 and a beta of 1.18.

iBio (NASDAQ:IBIO) last posted its earnings results on Tuesday, February 10th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01).

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.