IP Group (LON:IPO) Sets New 52-Week High – Time to Buy?

IP Group Plc (LON:IPO) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 67.50 and last traded at GBX 64.60, with a volume of 68457773 shares trading hands. The stock had previously closed at GBX 62.80.

Wall Street Analyst Weigh In

IPO has been the subject of several research analyst reports. Berenberg Bank restated a “buy” rating and issued a GBX 100 price objective on shares of IP Group in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of IP Group from GBX 103 to GBX 110 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of GBX 105.

IP Group Stock Up 2.1%

The firm has a market cap of £592.78 million, a price-to-earnings ratio of 9.45 and a beta of 1.26. The firm’s 50 day moving average price is GBX 58.07 and its two-hundred day moving average price is GBX 58.39. The company has a debt-to-equity ratio of 12.28, a current ratio of 0.16 and a quick ratio of 8.59.

IP Group (LON:IPO) last announced its earnings results on Tuesday, March 17th. The company reported GBX 7.24 earnings per share for the quarter. IP Group had a net margin of 3,526.32% and a return on equity of 7.16%. As a group, sell-side analysts forecast that IP Group Plc will post 19.6245031 earnings per share for the current fiscal year.

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK’s largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach.