iBio, Inc. (NASDAQ:IBIO) Given Average Recommendation of “Buy” by Brokerages

iBio, Inc. (NASDAQ:IBIO) has received an average recommendation of “Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One equities research 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 objective among brokers that have issued ratings on the stock in the last year is $5.00.

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

iBio Stock Performance

NASDAQ:IBIO opened at $1.41 on Wednesday. The company has a market cap of $70.05 million, a price-to-earnings ratio of -2.43 and a beta of 1.27. The stock’s fifty day moving average price is $1.65 and its two-hundred day moving average price is $2.00. iBio has a 52-week low of $0.56 and a 52-week high of $3.82.

iBio (NASDAQ:IBIO) last released its earnings results on Tuesday, May 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, equities analysts predict that iBio will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On iBio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new stake in shares of iBio during the 3rd quarter valued at $37,000. PFG Investments LLC bought a new position in shares of iBio in the 4th quarter worth $41,000. XTX Topco Ltd bought a new position in shares of iBio in the 4th quarter worth $71,000. Persistent Asset Partners Ltd acquired a new stake in shares of iBio during the fourth quarter worth $76,000. Finally, Citadel Advisors LLC acquired a new stake in shares of iBio during the third quarter worth $109,000. 7.90% of the stock is owned by institutional investors.

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.