IP Group (LON:IPO) Shares Up 6.5% - Here's Why

Key Points

• IP Group's share price increased by 6.5% during trading, peaking at GBX 58.20 ($0.78) after closing the previous session at GBX 54.20 ($0.72).
• Berenberg Bank adjusted its target price for IP Group from GBX 126 to GBX 100 but maintained a "buy" rating, contributing to a consensus rating of "Buy" among analysts.
• The company reported a net margin of 106.78% and an EPS of GBX (4.55) for the most recent quarter, indicating a positive outlook despite a negative return on equity of 19.85%.

IP Group Plc (LON:IPO - Get Free Report)'s share price shot up 6.5% on Monday . The company traded as high as GBX 58.20 ($0.78) and last traded at GBX 57.70 ($0.77). 5,936,260 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 5,186,240 shares. The stock had previously closed at GBX 54.20 ($0.72).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reduced their target price on shares of IP Group from GBX 126 to GBX 100 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of GBX 100.

IP Group Trading Up 8.1%

The firm has a market capitalization of £524.67 million, a PE ratio of -410.37 and a beta of 1.36. The stock's 50-day moving average price is GBX 56.66 and its 200 day moving average price is GBX 50.20. The company has a debt-to-equity ratio of 13.99, a current ratio of 9.28 and a quick ratio of 8.59.

IP Group (LON:IPO - Get Free Report) last released its quarterly earnings data on Wednesday, September 17th. The company reported GBX (4.55) earnings per share (EPS) for the quarter. IP Group had a net margin of 106.78% and a negative return on equity of 19.85%. On average, sell-side analysts expect that IP Group Plc will post 19.6245031 EPS for the current fiscal year.

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions.

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