Innate Pharma (NASDAQ:IPHA) Given Buy Rating at HC Wainwright

Innate Pharma (NASDAQ:IPHA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $11.50 price target on the stock. HC Wainwright’s target price points to a potential upside of 363.71% from the stock’s current price.

Innate Pharma Price Performance

Shares of IPHA stock opened at $2.48 on Thursday. Innate Pharma has a 52-week low of $1.81 and a 52-week high of $3.57. The firm’s 50-day moving average is $2.56 and its 200-day moving average is $2.55. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 0.60.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Innate Pharma by 27.4% in the first quarter. BlackRock Inc. now owns 504,408 shares of the company’s stock valued at $1,695,000 after purchasing an additional 108,335 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Innate Pharma by 156.3% in the first quarter. Jane Street Group LLC now owns 37,736 shares of the company’s stock worth $127,000 after acquiring an additional 23,012 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in Innate Pharma in the 3rd quarter worth about $32,000. Millennium Management LLC lifted its holdings in shares of Innate Pharma by 389.8% during the fourth quarter. Millennium Management LLC now owns 71,684 shares of the company’s stock worth $267,000 after purchasing an additional 57,050 shares during the period. Finally, Citadel Advisors LLC bought a new stake in Innate Pharma in the second quarter valued at approximately $42,000. 0.16% of the stock is owned by institutional investors and hedge funds.

About Innate Pharma

Innate Pharma SA, a biotechnology company, develops immunotherapies for cancer patients 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), an Anti-C5aR Antibody; 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; IPH6401, an BCMA-targeting NK cell engager; and IPH6101, a NKp46-based NK cell engager that targets CD123 proprietary multi-specific antibody format; and IPH62, an B7-H3-targeting NK cell engager.