Chardan Capital Reaffirms “Buy” Rating for iBio (NYSE:IBIO)

iBio (NYSE:IBIO)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a report issued on Thursday,Benzinga reports. They presently have a $5.00 price objective on the stock. Chardan Capital’s target price would suggest a potential upside of 126.24% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Oppenheimer reissued an “outperform” rating on shares of iBio in a research report on Wednesday, October 29th. Leerink Partners began coverage on iBio in a research note on Friday, October 17th. They set an “outperform” rating and a $2.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $4.00.

iBio Trading Down 2.6%

iBio stock opened at $2.21 on Thursday. The company has a market cap of $71.92 million, a price-to-earnings ratio of -2.21 and a beta of 1.26. The firm has a 50-day moving average of $2.12 and a 200-day moving average of $1.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.76 and a quick ratio of 1.76. iBio has a one year low of $0.56 and a one year high of $6.89.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. acquired a new stake in iBio during the third quarter worth approximately $399,000. Monashee Investment Management LLC acquired a new position in shares of iBio in the fourth quarter valued at approximately $530,000. Noesis Capital Mangement Corp bought a new position in shares of iBio during the fourth quarter worth approximately $433,000. Geode Capital Management LLC lifted its holdings in iBio by 47.1% during the 4th quarter. Geode Capital Management LLC now owns 222,610 shares of the company’s stock worth $430,000 after purchasing an additional 71,301 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its stake in iBio by 10.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after purchasing an additional 17,414 shares during the period. 7.90% of the stock is owned by institutional investors.

About iBio

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.