iBio, Inc. (NASDAQ:IBIO) Receives $5.00 Consensus Price Target from Brokerages

Shares of iBio, Inc. (NASDAQ:IBIO) have received a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.00.

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut iBio from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Raymond James Financial began coverage on shares of iBio in a research report on Monday, June 8th. They issued an “outperform” rating and a $5.00 price objective for the company. B. Riley Financial assumed coverage on shares of iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Finally, Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of iBio in a report on Thursday, July 2nd.

iBio Price Performance

Shares of IBIO stock opened at $1.38 on Wednesday. The company’s fifty day simple moving average is $1.66 and its two-hundred day simple moving average is $2.00. iBio has a 1 year low of $0.56 and a 1 year high of $3.82. The stock has a market capitalization of $68.56 million, a price-to-earnings ratio of -2.38 and a beta of 1.27.

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

Institutional Investors Weigh In On iBio

Several large investors have recently added to or reduced their stakes in IBIO. EcoR1 Capital LLC bought a new position in iBio in the 4th quarter worth about $4,300,000. Affinity Asset Advisors LLC purchased a new stake in shares of iBio in the 4th quarter valued at about $3,970,000. Logos Global Management LP bought a new stake in shares of iBio during the 4th quarter valued at about $3,860,000. Frazier Life Sciences Management L.P. purchased a new position in shares of iBio during the fourth quarter worth about $3,770,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of 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 worth $2,116,000 after purchasing an additional 1,085,779 shares in the last quarter. Institutional investors own 7.90% of the company’s stock.

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.