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

Innate Pharma (NASDAQ:IPHA) announced its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.17, FiscalAI reports. The business had revenue of $2.42 million during the quarter, compared to analyst estimates of $1.96 million.

Innate Pharma Trading Down 1.6%

Shares of NASDAQ IPHA traded down $0.02 during midday trading on Thursday, reaching $1.26. 12,273 shares of the stock were exchanged, compared to its average volume of 19,492. The business has a 50-day simple moving average of $1.64 and a two-hundred day simple moving average of $1.82. Innate Pharma has a 12 month low of $1.17 and a 12 month high of $2.63.

Institutional Trading of Innate Pharma

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Innate Pharma during the fourth quarter worth about $162,000. OLD Mission Capital LLC bought a new stake in shares of Innate Pharma in the fourth quarter worth about $50,000. Finally, Millennium Management LLC acquired a new stake in shares of Innate Pharma during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BTIG Research assumed coverage on shares of Innate Pharma in a research report on Thursday, March 12th. They set a “buy” rating and a $8.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Innate Pharma in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Innate Pharma has an average rating of “Moderate Buy” and an average target price of $5.00.

Innate Pharma Company Profile

Innate Pharma SA is a clinical-stage biotechnology company specializing in the discovery and development of antibody-based therapies that harness the body’s innate immune system to combat cancer. Founded in 1999 and headquartered in Marseille, France, the company pioneers novel monoclonal antibodies designed to activate natural killer cells and macrophages, offering a complementary approach to existing immuno-oncology treatments.

The company’s lead program, monalizumab, targets the NKG2A immune checkpoint receptor and is being developed in collaboration with AstraZeneca.