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

iBio, Inc. (NASDAQ:IBIO) has been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $5.00.

IBIO has been the subject of several recent analyst reports. B. Riley Financial initiated coverage on shares of iBio in a research note on Friday, June 5th. They issued a “buy” rating and a $6.00 target price for the company. JonesTrading initiated coverage on shares of iBio in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 target price for the company. Raymond James Financial began coverage on iBio in a research note on Monday, June 8th. They set an “outperform” rating and a $5.00 target price for the company. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a report on Friday, March 27th.

iBio Stock Performance

Shares of iBio stock opened at $1.62 on Friday. The business’s 50 day simple moving average is $1.75 and its 200 day simple moving average is $2.05. iBio has a 52-week low of $0.56 and a 52-week high of $3.82. The firm has a market cap of $80.48 million, a PE ratio of -2.79 and a beta of 1.26.

iBio (NASDAQ:IBIO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). As a group, equities research analysts predict that iBio will post -0.36 EPS for the current year.

Institutional Investors Weigh In On iBio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP acquired a new stake in shares of iBio in the third quarter valued at about $37,000. PFG Investments LLC acquired a new position in shares of iBio during the fourth quarter worth approximately $41,000. XTX Topco Ltd bought a new stake in iBio during the 4th quarter valued at $71,000. Persistent Asset Partners Ltd bought a new stake in iBio during the 4th quarter valued at $76,000. Finally, Citadel Advisors LLC bought a new stake in iBio during the 3rd quarter valued at $109,000. 7.90% of the stock is owned by institutional investors.

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.