iBio (NASDAQ:IBIO) Given Buy Rating at Chardan Capital

iBio (NASDAQ:IBIO)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a report issued on Wednesday,Benzinga reports. They presently have a $5.00 price objective on the stock. Chardan Capital’s price target would suggest a potential upside of 103.25% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Wall Street Zen upgraded iBio from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Monday, December 29th. JonesTrading assumed coverage on shares of iBio in a report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Lifesci Capital raised shares of iBio to a “strong-buy” rating in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $4.75.

iBio Stock Performance

NASDAQ IBIO opened at $2.46 on Wednesday. The firm has a fifty day moving average price of $2.40. iBio has a 1 year low of $0.56 and a 1 year high of $5.00. The firm has a market cap of $84.97 million, a P/E ratio of -2.46 and a beta of 1.18.

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

Hedge Funds Weigh In On iBio

A number of institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new position in shares of iBio in the 3rd quarter valued at about $37,000. PFG Investments LLC acquired a new stake in iBio during the fourth quarter worth about $41,000. XTX Topco Ltd acquired a new stake in iBio during the fourth quarter worth about $71,000. Persistent Asset Partners Ltd purchased a new position in iBio during the fourth quarter valued at approximately $76,000. Finally, Citadel Advisors LLC acquired a new position in iBio in the third quarter valued at approximately $109,000. Hedge funds and other 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.