iBio initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of iBio (IBIO) with an Outperform rating and $5 price target citing “optimism” for lead asset IBIO-610 to address key challenges in treating the growing obesity market. Preclinical data validate the potential of ‘610 to drive both fat loss and lean mass preservation, supporting “a highly differentiated and complementary profile,” says the analyst, who views the drug as “an under-the-radar” next-generations approach that “could command strategic interest.”