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

iBio (NASDAQ:IBIO)‘s stock had its “buy” rating reiterated by research analysts at Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They presently have a $5.00 target price on the stock. Chardan Capital’s target price points to a potential upside of 185.71% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. B. Riley Financial began coverage on shares of iBio in a report on Friday, June 5th. They issued a “buy” rating and a $6.00 price objective for the company. Raymond James Financial assumed coverage on shares of iBio in a research report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.00.

iBio Stock Performance

NASDAQ:IBIO opened at $1.75 on Thursday. The company has a market capitalization of $86.94 million, a P/E ratio of -3.02 and a beta of 1.26. The stock’s 50 day moving average price is $1.71 and its 200 day moving average price is $2.04. iBio has a 52 week low of $0.56 and a 52 week high of $3.82.

iBio (NASDAQ:IBIO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). As a group, sell-side analysts forecast that iBio will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iBio

A number of institutional investors have recently modified their holdings of the company. EcoR1 Capital LLC acquired a new position in iBio in the 4th quarter valued at $4,300,000. Frazier Life Sciences Management L.P. acquired a new position in iBio during the 4th quarter worth $3,770,000. Renaissance Technologies LLC acquired a new position in iBio during the 4th quarter worth $682,000. Ikarian Capital LLC boosted its holdings in iBio by 55.0% during the fourth quarter. Ikarian Capital LLC now owns 957,062 shares of the company’s stock valued at $1,847,000 after acquiring an additional 339,735 shares during the period. Finally, Affinity Asset Advisors LLC bought a new stake in iBio during the fourth quarter valued at about $3,970,000. 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.