HC Wainwright Issues Pessimistic Forecast for ImmunoPrecise Antibodies (NASDAQ:IPA) Stock Price

ImmunoPrecise Antibodies (NASDAQ:IPA) had its price objective lowered by HC Wainwright from $7.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

ImmunoPrecise Antibodies Price Performance

ImmunoPrecise Antibodies stock opened at $0.39 on Monday. The business’s 50-day simple moving average is $0.44 and its 200 day simple moving average is $0.48. The company has a quick ratio of 0.85, a current ratio of 1.01 and a debt-to-equity ratio of 0.36. The stock has a market cap of $12.18 million, a price-to-earnings ratio of -0.50 and a beta of 0.09. ImmunoPrecise Antibodies has a 12-month low of $0.27 and a 12-month high of $1.59.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its earnings results on Friday, March 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). ImmunoPrecise Antibodies had a negative net margin of 114.50% and a negative return on equity of 73.74%. The company had revenue of $4.23 million for the quarter, compared to analyst estimates of $6.59 million. As a group, research analysts anticipate that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC raised its position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,558,892 shares of the company’s stock after purchasing an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned 5.41% of ImmunoPrecise Antibodies worth $996,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Company Profile

ImmunoPrecise Antibodies Ltd., together with its subsidiaries, operates as a biotherapeutic research and technology company in Canada and internationally. It provides NonaVac DNA for complex protein classes, including GPCRs and ion channels; and Rapid Prime, a positive monoclonal antibodies for generating anti-idiotypic antibodies, and producing monoclonal antibodies against conformational epitopes.