Innate Pharma (NASDAQ:IPHA) Stock Price Down 0.5% – Time to Sell?

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) fell 0.5% during mid-day trading on Wednesday. The company traded as low as $1.52 and last traded at $1.57. 18,806 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 37,397 shares. The stock had previously closed at $1.5780.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IPHA shares. UBS Group restated a “buy” rating on shares of Innate Pharma in a report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and issued a $9.00 price objective on shares of Innate Pharma in a research note on Thursday, September 17th. Leerink Partners upgraded shares of Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Innate Pharma in a research report on Tuesday, September 22nd. Finally, Citigroup raised shares of Innate Pharma from a “buy” rating to an “outperform” rating in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.67.

Innate Pharma Price Performance

The firm has a 50-day simple moving average of $1.86 and a two-hundred day simple moving average of $1.77.

About Innate Pharma

Innate Pharma SA is a clinical-stage biotechnology company focused on developing immunotherapies for cancer. The company’s research is centered on the innate immune system, including natural killer cells and other immune cells that can recognize and attack tumors. Its product candidates include monoclonal antibodies, immune-cell engagers and other treatments designed to stimulate or direct immune responses against cancer.

Innate Pharma’s pipeline has included lacutamab, an antibody targeting KIR3DL2 for the treatment of certain T-cell lymphomas, including cutaneous T-cell lymphoma.