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 report sent to investors on Saturday morning.

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

ImmunoPrecise Antibodies Stock Performance

IPA traded up $0.19 during trading on Friday, hitting $1.83. The stock had a trading volume of 1,081,038 shares, compared to its average volume of 4,327,876. ImmunoPrecise Antibodies has a one year low of $0.27 and a one year high of $2.41. The company has a 50 day moving average price of $1.22 and a 200-day moving average price of $0.71. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.08 and a quick ratio of 1.85. The firm has a market cap of $84.46 million, a price-to-earnings ratio of -2.69 and a beta of 0.49.

ImmunoPrecise Antibodies (NASDAQ:IPA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $5.06 million for the quarter, compared to the consensus estimate of $7.89 million. ImmunoPrecise Antibodies had a negative net margin of 122.10% and a negative return on equity of 40.62%. As a group, research analysts predict that ImmunoPrecise Antibodies will post -0.27 EPS for the current year.

Institutional Investors Weigh In On ImmunoPrecise Antibodies

An institutional investor recently bought a new position in ImmunoPrecise Antibodies stock. Baader Bank Aktiengesellschaft bought a new position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,961 shares of the company's stock, valued at approximately $29,000. Baader Bank Aktiengesellschaft owned approximately 0.06% of ImmunoPrecise Antibodies at the end of the most recent reporting period. 6.70% of the stock is owned by institutional investors and hedge funds.

About ImmunoPrecise Antibodies

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.