HC Wainwright Lowers ImmunoPrecise Antibodies (NASDAQ:IPA) Price Target to $5.00

ImmunoPrecise Antibodies (NASDAQ:IPA) had its price target decreased by equities research analysts at HC Wainwright from $7.00 to $5.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

ImmunoPrecise Antibodies Stock Performance

Shares of IPA opened at $0.36 on Monday. The company has a 50-day simple moving average of $0.43 and a two-hundred day simple moving average of $0.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.01 and a quick ratio of 0.85. The firm has a market capitalization of $11.20 million, a PE ratio of -0.46 and a beta of 0.09. ImmunoPrecise Antibodies has a one year low of $0.27 and a one year high of $1.51.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its earnings results on Friday, March 28th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $4.23 million during the quarter, compared to analysts’ expectations of $6.59 million. ImmunoPrecise Antibodies had a negative return on equity of 73.74% and a negative net margin of 114.50%. On average, analysts anticipate that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

Institutional Trading of ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC boosted its holdings in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,558,892 shares of the company’s stock after purchasing an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned about 5.41% of ImmunoPrecise Antibodies worth $996,000 at the end of the most recent quarter. 6.70% of the stock is currently owned by hedge funds and other institutional investors.

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.