Analysts Set iBio, Inc. (NASDAQ:IBIO) Target Price at $4.75

iBio, Inc. (NASDAQ:IBIO) has earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $4.75.

A number of equities research analysts have recently weighed in on IBIO shares. Wall Street Zen raised iBio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a report on Monday, December 29th. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of iBio in a research note on Thursday, February 12th. Lifesci Capital upgraded iBio to a “strong-buy” rating in a research report on Thursday, December 18th. Finally, JonesTrading assumed coverage on iBio in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 price target for the company.

iBio Price Performance

IBIO stock opened at $2.45 on Thursday. The stock has a fifty day moving average price of $2.38. The firm has a market cap of $84.62 million, a PE ratio of -2.45 and a beta of 1.18. iBio has a one year low of $0.56 and a one year high of $5.60.

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

Hedge Funds Weigh In On iBio

Several large investors have recently bought and sold shares of IBIO. Cubist Systematic Strategies LLC bought a new stake in shares of iBio during the 1st quarter worth about $224,000. Ameriprise Financial Inc. bought a new position in shares of iBio in the third quarter valued at approximately $399,000. Boothbay Fund Management LLC increased its stake in shares of iBio by 10.9% during the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after acquiring an additional 17,414 shares during the period. Citadel Advisors LLC acquired a new position in shares of iBio during the third quarter valued at approximately $109,000. Finally, Susquehanna International Group LLP bought a new stake in iBio during the third quarter worth approximately $37,000. Institutional investors and hedge funds 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.