Leerink Partners Reiterates "Market Perform" Rating for Innate Pharma (NASDAQ:IPHA)

Key Points

• Innate Pharma's stock has been given a "market perform" rating by Leerink Partners, with a new target price of $2.00, significantly down from the previous $10.00.
• BTIG Research has initiated coverage with a "buy" rating, leading to a consensus rating of "hold" and an average target price of $6.50 across analysts.
• The company's current stock price is $2.05, with a one-year price range between $1.29 and $3.51.

Leerink Partners reaffirmed their market perform rating on shares of Innate Pharma (NASDAQ:IPHA - Free Report) in a report released on Thursday morning, MarketBeat.com reports. They currently have a $2.00 price target on the stock, down from their previous price target of $10.00.

Separately, BTIG Research assumed coverage on shares of Innate Pharma in a report on Monday, July 28th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.50.

Innate Pharma Trading Down 2.4%

IPHA stock traded down $0.05 during trading hours on Thursday, hitting $1.83. The company's stock had a trading volume of 10,882 shares, compared to its average volume of 93,469. The stock has a 50 day moving average price of $2.06 and a two-hundred day moving average price of $2.02. Innate Pharma has a 12 month low of $1.29 and a 12 month high of $3.51. The company has a debt-to-equity ratio of 3.52, a quick ratio of 2.60 and a current ratio of 2.21.

Innate Pharma Company Profile

Innate Pharma SA, a biotechnology company, develops immunotherapies for cancer patients in France and internationally. The company's products include Lacutamab (IPH4102), an anti-KIR3DL2 antibody, which is in Phase II clinical trials for the treatment of cutaneous T-cell and peripheral T-cell lymphoma, as well as in Phase II clinical trials to treat refractory sézary syndrome; Monalizumab, an immune checkpoint inhibitor that is in Phase III clinical trial to treat advanced solid tumors comprising colorectal and lung cancer, as well as head and neck cancer; IPH5201, a blocking antibody that is in Phase II clinical trials targeting the CD39 immunosuppressive pathway; IPH5301, an anti-CD73 antibody targeting the immunosuppressive adenosine pathway to promote antitumor immunity; IPH6401, an BCMA-targeting NK cell engager; and IPH6101, a NKp46-based NK cell engager that targets CD123 proprietary multi-specific antibody format; and IPH62, an B7-H3-targeting NK cell engager.