IBIO Stock Alert: Analyst Call Sends Shares of Pharma iBio Soaring

Shares of Ibio (NYSEMKT:IBIO) stock are taking off to start the day on Friday after an analyst update and new price target.

A scientist in medical gear peers through a microscope.

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Cantor Fitzgerald analyst Kristen Kluska initiated an ‘overweight’ rating on IBIO stock, with its price target reaching $3. This is major news with IBIO stock closing at $1.46 per share on Thursday. And if shares reach $3, that means there is more than 105% of upside from the closing price.

From a more long-term perspective, 2020 was a big year for the biotechnology firm. Shares of IBIO stock exploded 320% during the year, including reaching a high of $7.45 in August. And year-to-date, investors are enjoying gains of 62% thus far.

Ibio is located in Bryan, Texas, and focuses on “plant-based biologics manufacturing.” The company boasts a handful of therapeutics in its pipeline, including its own novel coronavirus vaccine. However, its also know for FastPharming technology, which can produce quality protein products with plants in a quick, efficient and safe manner.

That said,”iBio uses the FastPharming System to quickly produce biotherapeutic and vaccine candidates for unmet medical needs.”

IBIO stock was up 17% as of Friday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Nick is a web editor at InvestorPlace.

Article printed from InvestorPlace Media, https://investorplace.com/2021/01/ibio-stock-alert-analyst-call-sends-shares-of-pharma-ibio-soaring/.

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