ImmunoPrecise Antibodies (NASDAQ:IPA) Announces Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• ImmunoPrecise Antibodies reported an earnings per share (EPS) of ($0.04), missing analyst expectations of ($0.02).
• The company has a market cap of $92.45 million and a negative return on equity of 88.87%.
• Brokerage firms have differing outlooks, with Benchmark maintaining a "speculative buy" rating and a price target of $3.00, while HC Wainwright has set a higher target of $5.00.

ImmunoPrecise Antibodies (NASDAQ:IPA - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02), Zacks reports. ImmunoPrecise Antibodies had a negative return on equity of 40.62% and a negative net margin of 122.10%. The company had revenue of $5.06 million for the quarter, compared to analyst estimates of $7.89 million.

ImmunoPrecise Antibodies Trading Down 1.2%

Shares of NASDAQ IPA traded down $0.02 during midday trading on Friday, reaching $1.64. 1,008,010 shares of the stock were exchanged, compared to its average volume of 2,137,061. The company has a market capitalization of $75.69 million, a P/E ratio of -2.41 and a beta of 0.49. ImmunoPrecise Antibodies has a 52-week low of $0.27 and a 52-week high of $2.41. The company has a current ratio of 2.08, a quick ratio of 2.11 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $1.22 and a 200-day moving average price of $0.71.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $5.00 price objective on shares of ImmunoPrecise Antibodies in a research report on Friday, April 11th. Wall Street Zen raised shares of ImmunoPrecise Antibodies from a "sell" rating to a "hold" rating in a research report on Saturday.

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.