IBIO Stock Price - iBioPharma Inc. surges on COVID-19 vaccine optimism (7/30/2020)
|- NYSEAMERICAN:IBIO stock price rises 5.58% during Tuesday trading session.
- The plant-based vaccine maker sets itself apart from competitors, big-pharma juggernauts.
NYSEAMERICAN:IBIO has jumped again on Tuesday – something investors and analysts have been accustomed to seeing over the past few months. The Texas-based pharmaceutical company hit daily highs of $5.19 per share today, as investors are scooping up shares in hopes of hitting the COVID-19 vaccine jackpot. The stock price has doubled in the past month and is up an astounding 2,000% since the beginning of 2020.
As the earnings date approaches in mid-August, investors are hoping for some more news involving vaccine manufacturing. While it remains a longshot for iBioPharma to create immunization for coronavirus, their FastPharming innovation could mean that they play a role in the manufacturing of another company’s vaccine, which could be extremely lucrative in the long run.
IBIO stock forecast
Despite the rapid rise from penny-stock to a significant vaccine provider, investors should keep long term expectations tempered on iBioPharma. It was this time last week when investors believed that the stock price was well on its way to double digits, hitting all-time highs of $7.45 per share. A pullback at the end of the week, saw investors take some of their profits, making the tipping point of this stock at around $6.30-$6.40.
It is essential for bullish investors to remember just who iBioPharma is matched up against in the race for the COVID-19 vaccine. Johnson and Johnson (NYSE:JNJ), Pfizer (NYSE:PFE), and Merck & Co. (NYSE:MRK) are just some of the juggernauts in the industry that IBIO is competing with. For a company that does not even have a market cap of $1 billion, it seems unlikely that IBIO’s plant-based solution will emerge as a successful vaccine.
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