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

iBio, Inc. (NASDAQ:IBIO) has received an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $5.00.

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

Hedge Funds Weigh In On iBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBIO. Susquehanna International Group LLP acquired a new position in iBio during the third quarter valued at approximately $37,000. PFG Investments LLC acquired a new position in iBio during the fourth quarter valued at approximately $41,000. XTX Topco Ltd acquired a new position in iBio during the fourth quarter valued at approximately $71,000. Persistent Asset Partners Ltd acquired a new position in iBio during the fourth quarter valued at approximately $76,000. Finally, Citadel Advisors LLC acquired a new position in iBio during the third quarter valued at approximately $109,000. Institutional investors and hedge funds own 7.90% of the company’s stock.

iBio Price Performance

Shares of IBIO opened at $1.69 on Friday. The company has a market capitalization of $83.96 million, a price-to-earnings ratio of -2.91 and a beta of 1.26. iBio has a fifty-two week low of $0.56 and a fifty-two week high of $3.82. The business’s 50-day moving average is $1.78 and its 200-day moving average is $2.03.

iBio (NASDAQ:IBIO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Equities research analysts expect that iBio will post -0.36 earnings per share for the current fiscal year.

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.