In a report released today, Roy Buchanan from JMP Securities reiterated a Buy rating on Ibio (IBIO – Research Report), with a price target of $1.00. The company’s shares closed yesterday at $0.32.
Buchanan covers the Healthcare sector, focusing on stocks such as Enanta Pharmaceuticals, Hookipa Pharma, and PolyPid. According to TipRanks, Buchanan has an average return of -28.4% and a 19.77% success rate on recommended stocks.
Currently, the analyst consensus on Ibio is a Moderate Buy with an average price target of $1.00.
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Based on Ibio’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.94 million and a GAAP net loss of $12.39 million. In comparison, last year the company earned a revenue of $765 thousand and had a GAAP net loss of $7.66 million
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iBio, Inc. is a biotechnology company, which engages in the development and manufacture of biotherapeutics. Its pipeline include idiopathic pulmonary fibrosis, systemic sclerosis, and scleroderma. It operates through the iBio, Inc. and iBio CDMO business segments. The company was founded on April 15, 1993 and is headquartered in New York, NY.
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