Innate Pharma (NASDAQ:IPHA) Raised to Hold at Zacks Investment Research

Innate Pharma (NASDAQ:IPHAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Innate Pharma S.A. is a commercial stage oncology-focused biotech company. It discovers and develops therapeutic antibodies for the treatment of cancer. The company’s commercial-stage product includes Lumoxiti. Innate Pharma S.A. is based in Marseille, France. “

Separately, HC Wainwright reiterated a “buy” rating and set a $11.50 price target on shares of Innate Pharma in a research note on Friday, March 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $9.90.

IPHA traded down $0.01 during midday trading on Wednesday, hitting $2.91. 2,057 shares of the company were exchanged, compared to its average volume of 25,237. The firm’s 50 day moving average price is $3.08 and its 200-day moving average price is $3.87. Innate Pharma has a 1-year low of $2.66 and a 1-year high of $11.95. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.13.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Innate Pharma by 27.4% in the 1st quarter. BlackRock Inc. now owns 504,408 shares of the company’s stock worth $1,695,000 after buying an additional 108,335 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Innate Pharma by 41.9% in the 4th quarter. Bank of America Corp DE now owns 247,051 shares of the company’s stock worth $1,127,000 after buying an additional 72,951 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in shares of Innate Pharma in the 3rd quarter worth approximately $1,157,000. Affinity Asset Advisors LLC purchased a new position in shares of Innate Pharma in the 3rd quarter worth approximately $771,000. Finally, Alps Advisors Inc. purchased a new position in Innate Pharma in the fourth quarter valued at approximately $429,000. Hedge funds and other institutional investors own 1.74% of the company’s stock.

Innate Pharma Company Profile (Get Rating)

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 III 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; IPH5201, a blocking antibody that is in Phase 1 clinical trials targeting the CD39 immunosuppressive pathway; IPH5301, an anti-CD73 antibody targeting the immunosuppressive adenosine pathway to promote antitumor immunity; and IPH6101, a NKp46-based NK cell engager for the generation and evaluation of up to two bispecific NK cell engagers.

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