iBio (NASDAQ:IBIO) Earns Buy Rating from Chardan Capital

Key Points

• Chardan Capital reiterated a "Buy" rating on iBio with a $5.00 target, implying roughly a 123% upside from the current share price.
• Analyst consensus remains a "Buy" with a $4.75 average target amid mixed coverage (3 Strong Buy, 2 Buy, 1 Sell); the stock trades around $2.24, has a $77M market cap and reported EPS of ($0.09) last quarter.
• iBio's CFO bought 24,835 shares at about $2.02, increasing his holdings to 35,974 shares, while insiders collectively own roughly 2.75% of the company.

iBio (NASDAQ:IBIO - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Chardan Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $5.00 target price on the stock. Chardan Capital's target price suggests a potential upside of 123.21% from the company's current price.

A number of other research firms also recently commented on IBIO. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of iBio in a report on Friday, March 27th. JonesTrading assumed coverage on iBio in a report on Tuesday, March 3rd. They set a "buy" rating and a $7.00 target price for the company. Lifesci Capital raised iBio to a "strong-buy" rating in a report on Thursday, December 18th. Finally, Wall Street Zen raised iBio from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $4.75.

iBio Price Performance

Shares of IBIO stock opened at $2.24 on Thursday. iBio has a fifty-two week low of $0.56 and a fifty-two week high of $3.82. The stock has a market capitalization of $77.37 million, a price-to-earnings ratio of -2.24 and a beta of 1.36. The business's 50-day simple moving average is $2.30.

iBio (NASDAQ:IBIO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01).

Insider Transactions at iBio

In other 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 price of $2.02 per share, with a total value of $50,166.70. Following the purchase, the chief financial officer directly owned 35,974 shares of the company's stock, valued at $72,667.48. This trade represents a 222.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.75% of the company's stock.

Hedge Funds Weigh In On iBio

Institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new position in shares of iBio during the 3rd quarter valued at approximately $37,000. PFG Investments LLC purchased a new position in shares of iBio during the 4th quarter valued at approximately $41,000. XTX Topco Ltd purchased a new position in shares of iBio during the 4th quarter valued at approximately $71,000. Persistent Asset Partners Ltd purchased a new position in shares of iBio during the 4th quarter valued at approximately $76,000. Finally, Citadel Advisors LLC purchased a new position in shares of iBio during the 3rd quarter valued at approximately $109,000. 7.90% of the stock is owned by hedge funds and other institutional investors.

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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