iBio, Inc. (NASDAQ:IBIO) Receives Average Rating of "Buy" from Brokerages

Key Points

• Analysts have a consensus “Buy” rating on iBio from eight brokerages, with four buys, three strong buys and one sell. The average 12-month price target is $5.00, compared with the stock’s recent price of $1.31.
• Institutional ownership remains limited at 7.9%, although several hedge funds recently initiated or increased positions, including Headlands Technologies, which raised its stake by 333%.
• iBio’s latest quarterly loss was $0.04 per share, better than the expected $0.07 loss. Analysts project a full-year loss of approximately $0.31 per share, while the stock trades well below its 52-week high of $3.82.

iBio, Inc. (NASDAQ:IBIO - Get Free Report) has earned a consensus recommendation of "Buy" from the eight brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $5.00.

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of iBio in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of iBio from a "hold" rating to a "sell" rating in a research note on Sunday, August 23rd. B. Riley Financial began coverage on iBio in a report on Friday, June 5th. They issued a "buy" rating and a $6.00 price objective for the company. Raymond James Financial started coverage on shares of iBio in a research report on Monday, June 8th. They set an "outperform" rating and a $5.00 price target on the stock. Finally, Chardan Capital restated a "buy" rating and issued a $5.00 price objective on shares of iBio in a report on Thursday, July 2nd.

Institutional Trading of iBio

Hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in shares of iBio during the third quarter valued at about $37,000. XTX Topco Ltd purchased a new stake in iBio during the 4th quarter valued at about $71,000. Persistent Asset Partners Ltd purchased a new stake in iBio during the 4th quarter valued at about $76,000. Headlands Technologies LLC grew its position in iBio by 333.0% during the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company's stock worth $83,000 after acquiring an additional 36,463 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in iBio during the 3rd quarter worth approximately $109,000. 7.90% of the stock is owned by institutional investors.

iBio Trading Up 4.0%

Shares of NASDAQ IBIO opened at $1.31 on Thursday. The stock has a fifty day simple moving average of $1.46 and a two-hundred day simple moving average of $1.81. iBio has a 1-year low of $0.77 and a 1-year high of $3.82. The firm has a market cap of $65.08 million, a price-to-earnings ratio of -3.85 and a beta of 1.29.

iBio (NASDAQ:IBIO - Get Free Report) last issued its earnings results on Friday, August 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. Analysts forecast that iBio will post -0.31 EPS for the current year.

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.

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