Innate Pharma’s (IPHA) “Buy” Rating Reaffirmed at BTIG Research

Innate Pharma (NASDAQ:IPHA)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $9.00 target price on the stock. BTIG Research’s target price would suggest a potential upside of 382.57% from the company’s previous close.

A number of other brokerages have also recently commented on IPHA. HC Wainwright upped their price target on shares of Innate Pharma from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Leerink Partners upgraded shares of Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 target price on the stock in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 26th. Citigroup raised Innate Pharma from a “buy” rating to an “outperform” rating in a research note on Tuesday, August 11th. Finally, UBS Group restated a “buy” rating on shares of Innate Pharma in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Innate Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Innate Pharma Stock Down 7.2%

Shares of NASDAQ IPHA traded down $0.14 during midday trading on Thursday, reaching $1.86. 149,515 shares of the company traded hands, compared to its average volume of 84,593. Innate Pharma has a 12 month low of $1.17 and a 12 month high of $2.71. The stock’s 50-day simple moving average is $1.97 and its 200-day simple moving average is $1.74.

Innate Pharma (NASDAQ:IPHA) last issued its quarterly earnings data on Wednesday, September 16th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.17. The firm had revenue of $3.23 million for the quarter, compared to the consensus estimate of $6.35 million. As a group, equities research analysts expect that Innate Pharma will post -0.79 earnings per share for the current fiscal year.

Innate Pharma Company Profile

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.