iBio’s (IBIO) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of iBio (NYSE:IBIO) in a report published on Thursday morning,Benzinga reports. They currently have a $5.00 price target on the stock.

A number of other equities analysts have also commented on the company. Leerink Partners started coverage on iBio in a report on Friday, October 17th. They issued an “outperform” rating and a $2.00 price target for the company. Oppenheimer restated an “outperform” rating on shares of iBio in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $4.00.

iBio Stock Up 5.2%

IBIO opened at $2.22 on Thursday. iBio has a 12 month low of $0.56 and a 12 month high of $6.89. The company has a market cap of $76.69 million, a PE ratio of -2.22 and a beta of 1.26. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $2.15 and a 200 day moving average of $1.38.

Hedge Funds Weigh In On iBio

Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in shares of iBio during the 1st quarter worth $224,000. Ameriprise Financial Inc. purchased a new stake in iBio during the third quarter valued at about $399,000. Boothbay Fund Management LLC lifted its stake in iBio by 10.9% during the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock worth $146,000 after purchasing an additional 17,414 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of iBio in the 3rd quarter worth about $109,000. Finally, Susquehanna International Group LLP bought a new position in shares of iBio during the 3rd quarter valued at about $37,000. Institutional investors own 7.90% of the company’s stock.

About iBio

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.