Innate Pharma (NASDAQ:IPHA) Releases Quarterly Earnings Results

Innate Pharma (NASDAQ:IPHA) released its quarterly earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.17, FiscalAI reports. The business had revenue of $3.23 million for the quarter, compared to analyst estimates of $6.35 million.

Innate Pharma Stock Performance

Shares of Innate Pharma stock opened at $2.01 on Thursday. The stock’s 50-day moving average is $1.97 and its 200-day moving average is $1.74. Innate Pharma has a one year low of $1.17 and a one year high of $2.71.

Analyst Upgrades and Downgrades

IPHA has been the topic of several recent analyst reports. HC Wainwright lifted their price objective on Innate Pharma from $5.00 to $7.00 and gave the company a “buy” rating in a report on Monday, August 10th. Leerink Partners raised Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research note on Tuesday, August 11th. BTIG Research raised their target price on shares of Innate Pharma from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings raised shares of Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 26th. Finally, Citigroup upgraded shares of Innate Pharma from a “buy” rating to an “outperform” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.67.

About Innate Pharma

Innate Pharma SA is a biotechnology company headquartered in Marseille, France, focused on developing immunotherapies for cancer. Founded in 1999, the company uses its expertise in the biology of natural killer cells and other components of the innate immune system to develop antibody-based treatments designed to help the immune system recognize and attack cancer cells.

Innate Pharma’s pipeline includes lacutamab, an investigational antibody targeting KIR3DL2 for certain forms of cutaneous T-cell lymphoma and other T-cell malignancies.