ImmunoPrecise Antibodies (NASDAQ:IPA) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded ImmunoPrecise Antibodies from a "sell" rating to a "hold" rating, signaling a potentially more stable outlook for the company.
• HC Wainwright reissued a "buy" rating for ImmunoPrecise Antibodies with a price objective of $5.00, despite the company's recent earnings miss.
• ImmunoPrecise Antibodies reported a negative net margin of 122.10% and a revenue of $5.06 million, falling short of analysts' expectations of $7.89 million.

Wall Street Zen upgraded shares of ImmunoPrecise Antibodies (NASDAQ:IPA - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $5.00 target price on shares of ImmunoPrecise Antibodies in a research report on Friday, April 11th.

ImmunoPrecise Antibodies Stock Up 4.4%

IPA traded up $0.08 on Friday, hitting $1.89. The company had a trading volume of 746,342 shares, compared to its average volume of 4,278,274. The stock has a fifty day simple moving average of $1.27 and a 200-day simple moving average of $0.73. ImmunoPrecise Antibodies has a 52-week low of $0.27 and a 52-week high of $2.41. The firm has a market capitalization of $87.22 million, a P/E ratio of -2.78 and a beta of 0.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.08 and a quick ratio of 1.85.

ImmunoPrecise Antibodies (NASDAQ:IPA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). ImmunoPrecise Antibodies had a negative return on equity of 40.62% and a negative net margin of 122.10%. The firm had revenue of $5.06 million during the quarter, compared to analysts' expectations of $7.89 million. As a group, equities analysts expect that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC boosted its stake in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,779,363 shares of the company's stock after purchasing an additional 21,236 shares during the quarter. Ingalls & Snyder LLC owned about 6.07% of ImmunoPrecise Antibodies worth $2,946,000 as of its most recent SEC filing. 6.70% of the stock is owned by institutional investors and hedge funds.

ImmunoPrecise Antibodies Company Profile

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.