iBio, Inc. (NASDAQ:IBIO – Get Free Report) has been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $5.00.
IBIO has been the topic of several research reports. B. Riley Financial began coverage on shares of iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 price objective on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of iBio in a research report on Thursday, July 2nd. Raymond James Financial initiated 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. Wall Street Zen downgraded iBio from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a report on Wednesday, June 24th.
View Our Latest Stock Analysis on iBio
iBio Price Performance
iBio (NASDAQ:IBIO – Get Free Report) last issued its 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). On average, analysts anticipate that iBio will post -0.36 EPS for the current fiscal year.
Hedge Funds Weigh In On iBio
A number of institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in iBio in the 1st quarter valued at $224,000. Ameriprise Financial Inc. acquired a new position in iBio during the third quarter worth $399,000. Boothbay Fund Management LLC raised its holdings in iBio by 10.9% during the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock worth $146,000 after buying an additional 17,414 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of iBio in the third quarter valued at $109,000. Finally, Susquehanna International Group LLP bought a new position in shares of iBio in the third quarter valued at $37,000. 7.90% of the stock is owned by institutional investors and hedge funds.
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.
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