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

iBio (NASDAQ:IBIO)‘s stock had its “buy” rating reiterated by equities research analysts at Chardan Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $5.00 price target on the stock. Chardan Capital’s target price points to a potential upside of 185.71% from the company’s current price.

IBIO has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Raymond James Financial initiated coverage on iBio in a research note on Monday, June 8th. They set an “outperform” rating and a $5.00 price target for the company. Wall Street Zen cut iBio from a “hold” rating to a “sell” rating in a research report on Sunday, June 7th. Finally, B. Riley Financial assumed 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. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $5.00.

iBio Price Performance

Shares of IBIO opened at $1.75 on Thursday. The firm has a 50-day moving average price of $1.71 and a 200 day moving average price of $2.04. The firm has a market capitalization of $86.94 million, a PE ratio of -3.02 and a beta of 1.26. iBio has a 52-week low of $0.56 and a 52-week high of $3.82.

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

Institutional Investors Weigh In On iBio

Several hedge funds have recently made changes to their positions in IBIO. EcoR1 Capital LLC purchased a new stake in shares of iBio in the fourth quarter valued at $4,300,000. Affinity Asset Advisors LLC acquired a new position in iBio during the fourth quarter valued at $3,970,000. Logos Global Management LP acquired a new position in iBio during the fourth quarter valued at $3,860,000. Frazier Life Sciences Management L.P. purchased a new stake in iBio in the 4th quarter worth about $3,770,000. Finally, Balyasny Asset Management L.P. lifted its stake in iBio by 10,440.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock worth $2,116,000 after acquiring an additional 1,085,779 shares in the last quarter. Hedge funds and other institutional investors own 7.90% of the company’s stock.

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.