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

Shares of iBio, Inc. (NASDAQ:IBIO) have earned a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.29.

A number of research analysts recently commented on the company. HC Wainwright assumed coverage on iBio in a report on Thursday, September 17th. They issued a “buy” rating and a $7.00 price objective on the stock. B. Riley Financial initiated coverage on shares of iBio in a research report on Friday, June 5th. They issued a “buy” rating and a $6.00 price target for the company. Chardan Capital reissued a “buy” rating and set a $5.00 price objective on shares of iBio in a research report on Thursday, July 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Monday, September 21st. Finally, Raymond James Financial started coverage on iBio in a research report on Monday, June 8th. They issued an “outperform” rating and a $5.00 target price for the company.

Hedge Funds Weigh In On iBio

Several institutional investors have recently added to or reduced their stakes in IBIO. Headlands Technologies LLC increased its stake in iBio by 333.0% in the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock valued at $83,000 after buying an additional 36,463 shares during the period. Jefferies Financial Group Inc. acquired a new position in iBio during the fourth quarter worth $309,000. Monashee Investment Management LLC purchased a new stake in shares of iBio in the fourth quarter valued at about $530,000. Bank of America Corp DE grew its holdings in iBio by 150.8% during the 1st quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock valued at $552,000 after buying an additional 174,620 shares during the last quarter. Finally, Noesis Capital Mangement Corp grew its stake in iBio by 38.9% in the 1st quarter. Noesis Capital Mangement Corp now owns 311,500 shares of the company’s stock worth $592,000 after acquiring an additional 87,300 shares during the period. Institutional investors and hedge funds own 7.90% of the company’s stock.

iBio Price Performance

NASDAQ:IBIO opened at $1.12 on Monday. The firm has a market cap of $72.35 million, a price-to-earnings ratio of -3.31 and a beta of 1.26. The company has a 50 day moving average price of $1.33 and a 200-day moving average price of $1.62. iBio has a 1-year low of $0.78 and a 1-year high of $3.82.

iBio (NASDAQ:IBIO) last posted its quarterly earnings data on Friday, August 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. On average, sell-side analysts anticipate that iBio will post -0.39 earnings per share for the current fiscal year.

About iBio

iBio, Inc is a biotechnology company focused on discovering and developing next-generation antibody therapeutics. The company uses artificial intelligence, machine learning and computational biology to identify antibody candidates and optimize their properties for potential use in cancer, autoimmune, inflammatory and fibrotic diseases.

iBio’s technology platform is based in part on the antibody-discovery capabilities obtained through its acquisition of RubrYc Therapeutics. The platform is designed to support target selection, antibody generation and optimization, with an emphasis on identifying antibodies that bind specific disease-related epitopes.