Innate Pharma (NASDAQ:IPHA) Shares Gap Up on Analyst Upgrade

Innate Pharma S.A. (NASDAQ:IPHA)’s stock price gapped up prior to trading on Wednesday after Citigroup raised their price target on the stock from $7.00 to $14.00. The stock had previously closed at $7.49, but opened at $7.93. Citigroup currently has a buy rating on the stock. Innate Pharma shares last traded at $7.53, with a volume of 648 shares traded.

Several other brokerages also recently weighed in on IPHA. SVB Leerink increased their price target on shares of Innate Pharma from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, September 17th. Evercore ISI increased their price target on shares of Innate Pharma from $6.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, September 17th. HC Wainwright reaffirmed a “buy” rating and set a $11.50 price objective on shares of Innate Pharma in a research note on Thursday, September 16th. Finally, Zacks Investment Research raised shares of Innate Pharma from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Innate Pharma presently has an average rating of “Buy” and a consensus target price of $9.85.

Several large investors have recently made changes to their positions in IPHA. Citadel Advisors LLC purchased a new position in shares of Innate Pharma during the 1st quarter valued at approximately $109,000. Optiver Holding B.V. purchased a new position in shares of Innate Pharma during the 1st quarter valued at approximately $131,000. Finally, Morgan Stanley lifted its position in shares of Innate Pharma by 993.8% during the 1st quarter. Morgan Stanley now owns 56,110 shares of the company’s stock valued at $242,000 after buying an additional 50,980 shares in the last quarter. Hedge funds and other institutional investors own 0.11% of the company’s stock.

The stock has a market cap of $554.15 million and a PE ratio of -23.33. The company has a current ratio of 3.04, a quick ratio of 3.81 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $4.29 and a 200-day moving average price of $4.11.

About Innate Pharma (NASDAQ:IPHA)

Innate Pharma SA, a biotechnology company, discovers, develops, and commercializes therapeutic antibodies for the treatment of oncology indications in France and internationally. The company's products include Lacutamab (IPH4102), an anti-KIR3DL2 antibody, which is in Phase II clinical trials for the treatment of cutaneous T-cell and peripheral T-cell lymphoma, as well as in Phase II clinical trials to treat refractory sézary syndrome; Monalizumab, an immune checkpoint inhibitor that is in Phase II clinical trial to treat advanced solid tumors comprising colorectal and lung cancer, as well as head and neck cancer; Avdoralimab (IPH5401), a monoclonal antibody blocking C5a binding to C5aR1 that is in Phase II clinicals trials for the treatment of COVID-19, bullous pemphigoid, chronic spontaneous urticaria, and other inflammatory diseases; and IPH5201, a blocking antibody that is in Phase 1 clinical trials targeting the CD39 immunosuppressive pathway.

Further Reading: Death Cross

Receive News & Ratings for Innate Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innate Pharma and related companies with MarketBeat.com's FREE daily email newsletter.