HC Wainwright Reaffirms Buy Rating for ImmunoPrecise Antibodies (NASDAQ:IPA)

ImmunoPrecise Antibodies (NASDAQ:IPA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $9.00 target price on the stock.

Separately, Benchmark reduced their price target on shares of ImmunoPrecise Antibodies from $5.00 to $3.00 and set a “speculative buy” rating for the company in a research report on Wednesday, August 14th.

ImmunoPrecise Antibodies Trading Down 18.7 %

Shares of IPA stock opened at $0.55 on Tuesday. ImmunoPrecise Antibodies has a 1-year low of $0.53 and a 1-year high of $2.60. The company has a market cap of $14.34 million, a price-to-earnings ratio of -1.33 and a beta of 0.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.41 and a quick ratio of 1.15. The stock has a 50 day simple moving average of $0.80 and a 200-day simple moving average of $1.10.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.42). The company had revenue of $4.76 million during the quarter, compared to analysts’ expectations of $4.92 million. ImmunoPrecise Antibodies had a negative return on equity of 57.05% and a negative net margin of 110.66%. On average, equities research analysts expect that ImmunoPrecise Antibodies will post -0.25 EPS for the current fiscal year.

Institutional Trading of ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC grew its holdings in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,910 shares of the company’s stock after purchasing an additional 26,310 shares during the quarter. Renaissance Technologies LLC owned approximately 0.24% of ImmunoPrecise Antibodies worth $65,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

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.