iBio, Inc. (NASDAQ:IBIO) Receives Consensus Rating of “Buy” from Brokerages

Shares of iBio, Inc. (NASDAQ:IBIO) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One investment 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 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.00.

A number of brokerages recently weighed in on IBIO. Chardan Capital reissued a “buy” rating and issued a $5.00 price objective on shares of iBio in a research note on Thursday, April 9th. Wall Street Zen downgraded iBio from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. JonesTrading began coverage on iBio in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 price objective on the stock. Raymond James Financial began coverage on iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 price objective on the stock. Finally, B. Riley Financial began coverage on iBio in a research note on Friday, June 5th. They issued a “buy” rating and a $6.00 price objective on the stock.

iBio Price Performance

Shares of iBio stock opened at $1.67 on Friday. The firm has a market cap of $82.97 million, a price-to-earnings ratio of -2.88 and a beta of 1.26. iBio has a 52-week low of $0.56 and a 52-week high of $3.82. The stock has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $2.05.

iBio (NASDAQ:IBIO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, equities research analysts predict that iBio will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP bought a new position in iBio in the 3rd quarter worth approximately $37,000. PFG Investments LLC bought a new position in iBio in the 4th quarter worth approximately $41,000. XTX Topco Ltd bought a new position in iBio in the 4th quarter worth approximately $71,000. Persistent Asset Partners Ltd bought a new position in iBio in the 4th quarter worth approximately $76,000. Finally, Citadel Advisors LLC bought a new position in iBio in the 3rd quarter worth approximately $109,000. 7.90% of the stock is owned by institutional investors.

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.