Innate Pharma (NASDAQ:IPHA) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Innate Pharma (NASDAQ:IPHA) announced its quarterly earnings data on Wednesday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.17, FiscalAI reports. The firm had revenue of $3.23 million during the quarter, compared to the consensus estimate of $6.35 million.

Innate Pharma Price Performance

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group reiterated a “buy” rating on shares of Innate Pharma in a research note on Tuesday, August 11th. Leerink Partners raised shares of Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 target price on the stock in a report on Tuesday, August 11th. BTIG Research upped their target price on Innate Pharma from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 26th. Finally, Citigroup raised Innate Pharma from a “buy” rating to an “outperform” rating in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.