HC Wainwright Reiterates “Buy” Rating for Innate Pharma (NASDAQ:IPHA)

Innate Pharma (NASDAQ:IPHA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $5.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 270.37% from the stock’s current price.

Several other analysts also recently issued reports on IPHA. BTIG Research began coverage on Innate Pharma in a research note on Thursday, March 12th. They issued a “buy” rating and a $8.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Innate Pharma in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.00.

Innate Pharma Stock Down 2.9%

IPHA traded down $0.04 on Tuesday, reaching $1.35. The company had a trading volume of 23,307 shares, compared to its average volume of 20,294. Innate Pharma has a fifty-two week low of $1.17 and a fifty-two week high of $2.63. The company’s fifty day moving average is $1.57 and its 200 day moving average is $1.77.

Innate Pharma (NASDAQ:IPHA) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $2.41 million during the quarter.

Hedge Funds Weigh In On Innate Pharma

Several hedge funds have recently bought and sold shares of IPHA. Millennium Management LLC acquired a new position in shares of Innate Pharma in the 4th quarter valued at approximately $36,000. OLD Mission Capital LLC bought a new position in Innate Pharma in the fourth quarter valued at approximately $50,000. Finally, Jane Street Group LLC bought a new position in Innate Pharma in the fourth quarter valued at approximately $162,000. 0.16% of the stock is owned by institutional investors.

About Innate Pharma

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.