Innate Pharma (NASDAQ:IPHA) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Innate Pharma (NASDAQ:IPHA) in a report published on Thursday, Benzinga reports. The firm currently has a $11.50 price target on the stock.

Innate Pharma Stock Performance

Innate Pharma stock opened at $2.48 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.73 and a current ratio of 3.73. Innate Pharma has a 12 month low of $1.81 and a 12 month high of $3.57. The stock’s 50 day simple moving average is $2.56 and its two-hundred day simple moving average is $2.55.

Institutional Investors Weigh In On Innate Pharma

Several hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its position in Innate Pharma by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 46,888 shares of the company’s stock worth $131,000 after purchasing an additional 11,890 shares in the last quarter. Optiver Holding B.V. boosted its position in Innate Pharma by 132.6% in the 3rd quarter. Optiver Holding B.V. now owns 190,219 shares of the company’s stock worth $481,000 after purchasing an additional 108,423 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Innate Pharma in the 2nd quarter worth approximately $42,000. Millennium Management LLC lifted its position in shares of Innate Pharma by 389.8% during the 4th quarter. Millennium Management LLC now owns 71,684 shares of the company’s stock valued at $267,000 after buying an additional 57,050 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in Innate Pharma in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

Innate Pharma Company Profile

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; Avdoralimab (IPH5401), an Anti-C5aR Antibody; IPH5201, a blocking antibody that is in Phase 1 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.