Press coverage about Innovate Biopharmaceuticals (NASDAQ:INNT) has trended positive on Sunday, according to Accern. The research group identifies positive and negative news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Innovate Biopharmaceuticals earned a media sentiment score of 0.37 on Accern’s scale. Accern also assigned media coverage about the company an impact score of 46.1010454219329 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
INNT has been the subject of a number of recent analyst reports. Seaport Global Securities reissued a “buy” rating on shares of Innovate Biopharmaceuticals in a research report on Wednesday, June 13th. ValuEngine raised shares of Innovate Biopharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 4th.
Shares of INNT stock traded up $2.39 during mid-day trading on Friday, reaching $13.45. 2,075,733 shares of the company were exchanged, compared to its average volume of 123,959. Innovate Biopharmaceuticals has a fifty-two week low of $3.43 and a fifty-two week high of $50.50.
Innovate Biopharmaceuticals (NASDAQ:INNT) last released its quarterly earnings results on Wednesday, May 16th. The company reported ($0.76) earnings per share for the quarter. Innovate Biopharmaceuticals had a negative return on equity of 1,923.83% and a negative net margin of 218.08%. analysts anticipate that Innovate Biopharmaceuticals will post -1.43 EPS for the current year.
About Innovate Biopharmaceuticals
Innovate Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for autoimmune and inflammatory diseases. The company's lead product candidate is INN-202 that has completed Phase 2b clinical trial for the treatment of celiac disease. It also develops INN-108, which has completed Phase 1 clinical trial to treat mild-to-moderate ulcerative colitis; INN-217 for the treatment of non-alcoholic steatohepatitis and microbiome; and INN-289 to treat crohn's disease.
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