Innate Pharma (NASDAQ:IPHA) Upgraded by Leerink Partners to “Outperform” Rating

Innate Pharma (NASDAQ:IPHA) was upgraded by Leerink Partners from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a $4.00 target price on the stock. Leerink Partners’ price target suggests a potential upside of 80.18% from the stock’s current price.

Other analysts have also issued reports about the company. Weiss Ratings upgraded Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 26th. UBS Group reissued a “buy” rating on shares of Innate Pharma in a report on Tuesday. Citigroup upgraded Innate Pharma from a “buy” rating to an “outperform” rating in a research note on Tuesday. Finally, HC Wainwright upped their price objective on shares of Innate Pharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Innate Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $6.33.

Innate Pharma Trading Up 28.3%

Innate Pharma stock opened at $2.22 on Tuesday. The business’s 50 day simple moving average is $1.80 and its 200 day simple moving average is $1.67. Innate Pharma has a 12 month low of $1.17 and a 12 month high of $2.62.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. OLD Mission Capital LLC bought a new stake in shares of Innate Pharma during the fourth quarter valued at about $50,000. Millennium Management LLC bought a new position in shares of Innate Pharma in the fourth quarter valued at approximately $36,000. Finally, Jane Street Group LLC bought a new position in shares of Innate Pharma in the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

About Innate Pharma

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.