Leerink Partnrs Downgrades Innate Pharma (NASDAQ:IPHA) to Hold

Key Points

• Innate Pharma's stock was downgraded by Leerink Partners from a "strong-buy" to a "hold" rating, significantly impacting investor sentiment.
• HC Wainwright also lowered its rating from "buy" to "neutral," while BTIG Research initiated coverage with a "buy" rating.
• The current average consensus rating for Innate Pharma is "Hold," with a target price reduced to $6.50, down from $10.00.

Innate Pharma (NASDAQ:IPHA - Get Free Report) was downgraded by investment analysts at Leerink Partnrs from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

IPHA has been the topic of several other research reports. HC Wainwright cut shares of Innate Pharma from a "buy" rating to a "neutral" rating in a report on Thursday. BTIG Research assumed coverage on shares of Innate Pharma in a report on Monday, July 28th. They issued a "buy" rating for the company. Finally, Leerink Partners reiterated a "market perform" rating and set a $2.00 target price (down from $10.00) on shares of Innate Pharma in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Innate Pharma currently has a consensus rating of "Hold" and an average price target of $6.50.

Innate Pharma Stock Down 3.6%

IPHA traded down $0.07 during trading on Thursday, hitting $1.87. 12,205 shares of the company traded hands, compared to its average volume of 14,856. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.21 and a quick ratio of 2.60. Innate Pharma has a one year low of $1.29 and a one year high of $3.51. The stock's fifty day moving average is $2.06 and its 200 day moving average is $2.02.

About Innate Pharma

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.