Innate Pharma (NASDAQ:IPHA) Trading Up 1.7% - Here's Why

Key Points

• Innate Pharma's stock price rose by 1.7% during mid-day trading, reaching a high of $2.19, with a current trading price of $2.13 after closing at $2.09.
• Analyst coverage from BTIG Research has initiated a buy rating for Innate Pharma, contributing to an average rating of "Buy" and a consensus target price of $11.00.
• Innate Pharma is developing a range of immunotherapies for cancer, with several products currently in various phases of clinical trials targeting multiple lymphoma and solid tumor types.

Shares of Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA - Get Free Report) shot up 1.7% on Friday . The company traded as high as $2.19 and last traded at $2.13. 1,849 shares changed hands during trading, a decline of 73% from the average session volume of 6,781 shares. The stock had previously closed at $2.09.

Wall Street Analysts Forecast Growth

Separately, BTIG Research assumed coverage on shares of Innate Pharma in a research note on Monday, July 28th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $11.00.

Innate Pharma Stock Performance

The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 2.52. The business's 50-day moving average price is $2.01 and its 200-day moving average price is $2.03.

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.