BTIG Research Initiates Coverage on Innate Pharma (NASDAQ:IPHA)

Stock analysts at BTIG Research initiated coverage on shares of Innate Pharma (NASDAQ:IPHA) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 433.33% from the company’s previous close.

Separately, Weiss Ratings reiterated 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Innate Pharma Stock Performance

Shares of NASDAQ:IPHA opened at $1.50 on Thursday. The business has a 50-day moving average of $1.71 and a two-hundred day moving average of $1.86. Innate Pharma has a 12 month low of $1.40 and a 12 month high of $2.63.

Institutional Investors Weigh In On Innate Pharma

A number of large investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in Innate Pharma during the 4th quarter worth $36,000. OLD Mission Capital LLC purchased a new position in Innate Pharma in the 4th quarter valued at about $50,000. Finally, Jane Street Group LLC acquired a new stake in shares of Innate Pharma during the fourth quarter valued at about $162,000. 0.16% of the stock is owned by institutional investors and hedge funds.

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.