iBio, Inc. (NASDAQ:IBIO) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Six brokerages give iBio an average recommendation of Buy (ratings range from sell to strong buy), with a consensus 12-month price target of $4.75.
• Shares recently opened at $1.69, the company has a $61.1M market cap and a 52-week range of $0.56–$3.82, and iBio reported a recent EPS miss and is forecast to post about -$0.32 EPS for the year.
• The CFO disclosed a purchase of 24,835 shares at $2.02 (a ~223% increase in his position), while institutional ownership remains low at about 7.9% and insiders hold 2.75%.

Shares of iBio, Inc. (NASDAQ:IBIO - Get Free Report) have been given an average recommendation of "Buy" by the six brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $4.75.

A number of research firms have recently commented on IBIO. Wall Street Zen raised shares of iBio from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. JonesTrading assumed coverage on shares of iBio in a report on Tuesday, March 3rd. They set a "buy" rating and a $7.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of iBio in a research note on Friday, March 27th. Finally, Chardan Capital reiterated a "buy" rating and issued a $5.00 target price on shares of iBio in a report on Thursday, April 9th.

iBio Stock Performance

Shares of NASDAQ IBIO opened at $1.69 on Friday. The business's 50-day simple moving average is $2.20 and its 200-day simple moving average is $1.92. iBio has a 52 week low of $0.56 and a 52 week high of $3.82. The firm has a market cap of $61.08 million, a price-to-earnings ratio of -1.69 and a beta of 1.36.

iBio (NASDAQ:IBIO - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, equities research analysts forecast that iBio will post -0.32 earnings per share for the current year.

Insider Activity

In other iBio news, CFO Felipe Duran acquired 24,835 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of $2.02 per share, for a total transaction of $50,166.70. Following the completion of the purchase, the chief financial officer owned 35,974 shares of the company's stock, valued at approximately $72,667.48. This trade represents a 222.96% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.75% of the company's stock.

Institutional Trading of iBio

Several hedge funds have recently added to or reduced their stakes in IBIO. PFG Investments LLC bought a new position in iBio in the 4th quarter worth approximately $41,000. XTX Topco Ltd bought a new stake in shares of iBio in the fourth quarter valued at approximately $71,000. Persistent Asset Partners Ltd bought a new stake in shares of iBio in the fourth quarter valued at approximately $76,000. Susquehanna International Group LLP acquired a new stake in shares of iBio in the third quarter worth $37,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of iBio in the first quarter worth $224,000. Institutional investors own 7.90% of the company's stock.

About iBio

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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