ImmunoPrecise Antibodies (NASDAQ:IPA) Price Target Cut to $7.00 by Analysts at HC Wainwright

ImmunoPrecise Antibodies (NASDAQ:IPA) had its price objective cut by research analysts at HC Wainwright from $9.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, Benchmark dropped their price target on 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 Stock Performance

NASDAQ:IPA traded down $0.02 during trading hours on Wednesday, reaching $0.39. The company had a trading volume of 63,626 shares, compared to its average volume of 346,737. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.99 and a quick ratio of 0.82. The firm has a market cap of $11.10 million, a PE ratio of -0.48 and a beta of 0.06. The business’s 50 day moving average price is $0.48 and its 200-day moving average price is $0.73. ImmunoPrecise Antibodies has a 1-year low of $0.32 and a 1-year high of $2.60.

ImmunoPrecise Antibodies (NASDAQ:IPA) last announced its earnings results on Monday, September 16th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The business had revenue of $3.85 million for the quarter, compared to analyst estimates of $4.96 million. ImmunoPrecise Antibodies had a negative return on equity of 65.37% and a negative net margin of 114.67%. Research analysts forecast that ImmunoPrecise Antibodies will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC grew its holdings in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 63,910 shares of the company’s stock after acquiring an additional 26,310 shares during the quarter. Renaissance Technologies LLC owned about 0.24% of ImmunoPrecise Antibodies worth $65,000 at the end of the most recent reporting period. 6.70% of the stock is currently owned by institutional investors and hedge funds.

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.