Innate Pharma (NASDAQ:IPHA) Shares Up 4.4% – Time to Buy?

Shares of Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) rose 4.4% during trading on Tuesday . The company traded as high as $1.9574 and last traded at $1.89. Approximately 11,716 shares traded hands during trading, a decline of 71% from the average daily volume of 40,569 shares. The stock had previously closed at $1.81.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IPHA shares. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Innate Pharma in a research note on Tuesday, April 7th. BTIG Research initiated coverage on shares of Innate Pharma in a research report on Thursday, March 12th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Weiss Ratings lowered shares of Innate Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Innate Pharma Trading Up 4.4%

The company has a 50-day moving average of $1.69 and a 200-day moving average of $1.67.

Innate Pharma (NASDAQ:IPHA) last released its quarterly earnings results on Saturday, February 14th. The company reported ($0.18) EPS for the quarter. The business had revenue of $2.41 million during the quarter. On average, equities research analysts anticipate that Innate Pharma S.A. Sponsored ADR will post -0.55 earnings per share for the current year.

Institutional Trading of Innate Pharma

Several institutional investors have recently added to or reduced their stakes in IPHA. Jane Street Group LLC bought a new position in Innate Pharma during the 4th quarter worth approximately $162,000. OLD Mission Capital LLC acquired a new position in shares of Innate Pharma in the 4th quarter worth approximately $50,000. Finally, Millennium Management LLC bought a new stake in shares of Innate Pharma in the 4th quarter valued at $36,000. 0.16% of the stock is currently owned by institutional investors.

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.