Innate Pharma (NASDAQ:IPHA) Announces Earnings Results, Beats Expectations By $0.17 EPS

Innate Pharma (NASDAQ:IPHA) announced its earnings results on Thursday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.17, FiscalAI reports. The company had revenue of $2.42 million for the quarter, compared to analyst estimates of $1.96 million.

Innate Pharma Price Performance

IPHA traded down $0.02 during trading on Thursday, reaching $1.26. 12,273 shares of the stock were exchanged, compared to its average volume of 19,492. The stock’s 50 day moving average price is $1.64 and its two-hundred day moving average price is $1.82. Innate Pharma has a twelve month low of $1.17 and a twelve month high of $2.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Innate Pharma in the 4th quarter valued at about $162,000. Millennium Management LLC bought a new position in Innate Pharma during the fourth quarter worth about $36,000. Finally, OLD Mission Capital LLC bought a new position in Innate Pharma during the fourth quarter worth about $50,000. Institutional investors own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

IPHA has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Innate Pharma in a research report on Thursday, January 22nd. BTIG Research began coverage on shares of Innate Pharma in a research note on Thursday, March 12th. They issued a “buy” rating and a $8.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Innate Pharma presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Innate Pharma Company Profile

Innate Pharma SA is a clinical-stage biotechnology company specializing in the discovery and development of antibody-based therapies that harness the body’s innate immune system to combat cancer. Founded in 1999 and headquartered in Marseille, France, the company pioneers novel monoclonal antibodies designed to activate natural killer cells and macrophages, offering a complementary approach to existing immuno-oncology treatments.

The company’s lead program, monalizumab, targets the NKG2A immune checkpoint receptor and is being developed in collaboration with AstraZeneca.