iBio (NASDAQ:IBIO) Earns Buy Rating from Chardan Capital

iBio (NASDAQ:IBIO)‘s stock had its “buy” rating reaffirmed by investment analysts at Chardan Capital in a report issued on Wednesday,Benzinga reports. They presently have a $5.00 price objective on the stock. Chardan Capital’s target price suggests a potential upside of 142.25% from the stock’s current price.

IBIO has been the subject of several other research reports. Lifesci Capital raised shares of iBio to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a report on Monday, December 29th. JonesTrading started coverage on shares of iBio in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of iBio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $4.75.

iBio Trading Down 5.8%

Shares of NASDAQ:IBIO opened at $2.06 on Wednesday. iBio has a 52-week low of $0.56 and a 52-week high of $4.99. The business has a 50 day moving average price of $2.40. The company has a market capitalization of $71.29 million, a price-to-earnings ratio of -2.06 and a beta of 1.18.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IBIO. Cubist Systematic Strategies LLC bought a new stake in iBio during the first quarter worth $224,000. Ameriprise Financial Inc. bought a new position in iBio during the 3rd quarter valued at $399,000. Boothbay Fund Management LLC boosted its holdings in iBio by 10.9% during the 3rd quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock worth $146,000 after acquiring an additional 17,414 shares during the last quarter. Citadel Advisors LLC purchased a new position in iBio during the 3rd quarter worth $109,000. Finally, Susquehanna International Group LLP bought a new stake in shares of iBio in the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 7.90% of the company’s stock.

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.