iBio, Inc. (NASDAQ:IBIO) Given Consensus Rating of "Buy" by Brokerages

Key Points

• iBio has a consensus analyst rating of "Buy" from eight covering firms, with an average 12-month price target of $5.00 versus a recent share price of $1.44.
• Recent analyst actions were mixed: Chardan, B. Riley, and Raymond James maintained or initiated bullish ratings, while Weiss Ratings and Wall Street Zen issued or downgraded to sell.
• The company continues to post losses, reporting EPS of -$0.07 in its latest quarter and facing a full-year forecast of -$0.36 EPS, even as it advances biotech programs including IBIO-100 and preclinical vaccine candidates.

Shares of iBio, Inc. (NASDAQ:IBIO - Get Free Report) have been assigned an average recommendation of "Buy" from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.00.

IBIO has been the topic of a number of recent research reports. Chardan Capital reissued a "buy" rating and issued a $5.00 target price on shares of iBio in a report on Thursday, July 2nd. B. Riley Financial initiated coverage on shares of iBio in a research report on Friday, June 5th. They set a "buy" rating and a $6.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of iBio in a research note on Wednesday, June 24th. Raymond James Financial started coverage on iBio in a report on Monday, June 8th. They set an "outperform" rating and a $5.00 target price on the stock. Finally, Wall Street Zen downgraded shares of iBio from a "hold" rating to a "sell" rating in a report on Sunday.

iBio Stock Performance

Shares of IBIO stock opened at $1.44 on Wednesday. The firm has a market cap of $71.54 million, a price-to-earnings ratio of -2.48 and a beta of 1.27. iBio has a 1 year low of $0.56 and a 1 year high of $3.82. The stock's 50-day moving average is $1.68 and its two-hundred day moving average is $2.01.

iBio (NASDAQ:IBIO - Get Free Report) last issued its quarterly earnings data 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). As a group, research analysts predict that iBio will post -0.36 EPS for the current year.

Institutional Trading of iBio

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

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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