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

Chardan Capital reissued their buy rating on shares of iBio (NASDAQ:IBIO) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

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

iBio Price Performance

Shares of IBIO opened at $2.19 on Wednesday. The stock’s 50-day moving average is $2.40. The firm has a market cap of $75.64 million, a P/E ratio of -2.19 and a beta of 1.18. iBio has a fifty-two week low of $0.56 and a fifty-two week high of $4.99.

iBio (NASDAQ:IBIO) last issued its quarterly earnings data 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).

Hedge Funds Weigh In On iBio

Large investors have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new position in iBio during the third quarter worth approximately $37,000. PFG Investments LLC purchased a new stake in shares of iBio in the fourth quarter valued at approximately $41,000. XTX Topco Ltd acquired a new position in shares of iBio during the 4th quarter worth approximately $71,000. Persistent Asset Partners Ltd acquired a new position in shares of iBio during the 4th quarter worth approximately $76,000. Finally, Citadel Advisors LLC purchased a new position in shares of iBio during the 3rd quarter valued at approximately $109,000. Institutional investors and hedge funds 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.