iBio, Inc. (NASDAQ:IBIO) Receives $4.75 Average Target Price from Analysts

iBio, Inc. (NASDAQ:IBIO) has received a consensus recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.75.

IBIO has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research report on Monday, December 29th. Lifesci Capital raised iBio to a “strong-buy” rating in a research report on Thursday, December 18th. JonesTrading initiated coverage on iBio in a research note on Tuesday, March 3rd. They set a “buy” rating and a $7.00 target price on the stock. Wall Street Zen raised shares of iBio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Chardan Capital restated a “buy” rating and set a $5.00 price objective on shares of iBio in a report on Thursday, February 12th.

iBio Price Performance

Shares of NASDAQ IBIO opened at $2.39 on Thursday. iBio has a twelve month low of $0.56 and a twelve month high of $5.31. The business has a 50 day simple moving average of $2.39. The stock has a market cap of $82.55 million, a P/E ratio of -2.39 and a beta of 1.18.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EcoR1 Capital LLC purchased a new stake in shares of iBio during the 4th quarter worth approximately $4,300,000. Affinity Asset Advisors LLC purchased a new position in iBio in the fourth quarter valued at approximately $3,970,000. Logos Global Management LP purchased a new position in iBio in the fourth quarter valued at approximately $3,860,000. Frazier Life Sciences Management L.P. bought a new position in iBio during the fourth quarter valued at $3,770,000. Finally, Balyasny Asset Management L.P. grew its holdings in iBio by 10,440.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,085,779 shares during the period. 7.90% of the stock is owned by institutional investors.

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.