iBio Stock Surges on Bullish Analyst Calls and Obesity Drug Breakthroughs
iBio (NASDAQ: IBIO) traded at $0.89 midday October 21, down 63% year-to-date from $2.45 in January. Shares jumped over 20% last week after bullish “Outperform” ratings from Oppenheimer and Leerink Partners, with price targets of $5.00 and $2.00. The company reported positive preclinical results for its obesity drug IBIO-610 and raised $50 million in a recent offering. Market cap stands near $18 million.