Innate Pharma (NASDAQ:IPHA) Releases Earnings Results, Beats Expectations By $0.17 EPS

Innate Pharma (NASDAQ:IPHA) announced its quarterly earnings data on Wednesday. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.17, FiscalAI reports. The business had revenue of $3.23 million during the quarter, compared to analyst estimates of $6.35 million.

Innate Pharma Stock Performance

Shares of NASDAQ IPHA opened at $2.01 on Thursday. Innate Pharma has a 52-week low of $1.17 and a 52-week high of $2.71. The firm has a 50 day moving average price of $1.97 and a 200 day moving average price of $1.74.

Analyst Upgrades and Downgrades

IPHA has been the subject of several recent research reports. Citigroup upgraded shares of Innate Pharma from a “buy” rating to an “outperform” rating in a research report on Tuesday, August 11th. UBS Group restated a “buy” rating on shares of Innate Pharma in a research report on Tuesday, August 11th. Leerink Partners raised Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 price objective for the company in a research note on Tuesday, August 11th. HC Wainwright upped their price objective on Innate Pharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, BTIG Research increased their target price on Innate Pharma from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.67.

About Innate Pharma

Innate Pharma SA is a biotechnology company headquartered in Marseille, France, focused on developing immunotherapies for cancer. Founded in 1999, the company uses its expertise in the biology of natural killer cells and other components of the innate immune system to develop antibody-based treatments designed to help the immune system recognize and attack cancer cells.

Innate Pharma’s pipeline includes lacutamab, an investigational antibody targeting KIR3DL2 for certain forms of cutaneous T-cell lymphoma and other T-cell malignancies.