iBio (NASDAQ:IBIO) Rating Increased to Moderate Buy at Raymond James Financial

iBio (NASDAQ:IBIO) was upgraded by stock analysts at Raymond James Financial to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on IBIO. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. B. Riley Financial initiated coverage on shares of iBio in a research report on Friday. They set a “buy” rating and a $6.00 target price on the stock. Wall Street Zen lowered shares of iBio from a “hold” rating to a “sell” rating in a research note on Sunday. JonesTrading initiated coverage on shares of iBio in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and issued a $5.00 price target on shares of iBio in a research note on Thursday, April 9th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, iBio has an average rating of “Buy” and an average price target of $5.00.

iBio Stock Down 4.9%

Shares of IBIO stock opened at $1.73 on Monday. The stock has a market cap of $85.95 million, a price-to-earnings ratio of -2.98 and a beta of 1.26. iBio has a fifty-two week low of $0.56 and a fifty-two week high of $3.82. The firm’s 50 day moving average price is $1.84 and its two-hundred day moving average price is $2.01.

iBio (NASDAQ:IBIO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). On average, equities analysts forecast that iBio will post -0.38 EPS for the current fiscal year.

Insider Activity

In related news, CFO Felipe Duran purchased 24,835 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average price 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 in the company, valued at approximately $72,667.48. This represents a 222.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.75% of the company’s stock.

Institutional Trading of iBio

Institutional investors have recently added to or reduced their stakes in the business. PFG Investments LLC bought a new stake in iBio during the fourth quarter valued at $41,000. XTX Topco Ltd bought a new stake in iBio during the fourth quarter valued at $71,000. Persistent Asset Partners Ltd bought a new stake in iBio during the fourth quarter valued at $76,000. Susquehanna International Group LLP bought a new stake in iBio during the third quarter valued at $37,000. Finally, Cubist Systematic Strategies LLC bought a new stake in iBio during the first quarter valued at $224,000. Institutional investors own 7.90% of the company’s stock.

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.