iBio’s (IBIO) Buy Rating Reiterated at Chardan Capital

iBio (NYSE:IBIO)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a research report issued on Thursday,Benzinga reports. They presently have a $5.00 price target on the stock. Chardan Capital’s price objective suggests a potential upside of 126.24% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Oppenheimer restated an “outperform” rating on shares of iBio in a research report on Wednesday, October 29th. Leerink Partners initiated coverage on iBio in a report on Friday, October 17th. They issued an “outperform” rating and a $2.00 price target for the company. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, iBio currently has a consensus rating of “Buy” and an average target price of $4.00.

iBio Stock Down 2.6%

Shares of NYSE:IBIO opened at $2.21 on Thursday. The company has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $1.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $71.92 million, a PE ratio of -2.21 and a beta of 1.26. iBio has a 52 week low of $0.56 and a 52 week high of $6.89.

Institutional Trading of iBio

A number of institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. bought a new position in shares of iBio during the third quarter worth about $399,000. Monashee Investment Management LLC bought a new stake in iBio in the 4th quarter valued at approximately $530,000. Noesis Capital Mangement Corp acquired a new position in iBio during the 4th quarter worth approximately $433,000. Geode Capital Management LLC grew its stake in shares of iBio by 47.1% during the 4th quarter. Geode Capital Management LLC now owns 222,610 shares of the company’s stock worth $430,000 after acquiring an additional 71,301 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in shares of iBio by 10.9% in the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after purchasing an additional 17,414 shares during the last quarter. 7.90% of the stock is currently owned by institutional investors.

About iBio

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.