ImmunoPrecise Antibodies’ (IPA) “Speculative Buy” Rating Reiterated at Benchmark

ImmunoPrecise Antibodies (NASDAQ:IPA)‘s stock had its “speculative buy” rating reaffirmed by research analysts at Benchmark in a research report issued on Tuesday,Benzinga reports. They currently have a $3.00 price target on the stock.

Separately, HC Wainwright cut their target price on ImmunoPrecise Antibodies from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday.

ImmunoPrecise Antibodies Trading Down 4.4 %

Shares of ImmunoPrecise Antibodies stock traded down $0.02 during trading hours on Tuesday, reaching $0.36. 208,357 shares of the company’s stock were exchanged, compared to its average volume of 2,060,011. The firm has a market capitalization of $11.18 million, a price-to-earnings ratio of -0.46 and a beta of 0.09. The company has a current ratio of 1.01, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. ImmunoPrecise Antibodies has a 52-week low of $0.27 and a 52-week high of $1.59. The company has a fifty day moving average of $0.43 and a 200-day moving average of $0.47.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its earnings results on Friday, March 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting 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 business had revenue of $4.23 million for the quarter, compared to analysts’ expectations of $6.59 million. Sell-side analysts forecast that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC increased its holdings in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,558,892 shares of the company’s stock after purchasing an additional 263,451 shares during the period. Ingalls & Snyder LLC owned 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 6.70% of the company’s stock.

About ImmunoPrecise Antibodies

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.