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

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

ImmunoPrecise Antibodies Trading Down 11.0 %

Shares of ImmunoPrecise Antibodies stock opened at $0.39 on Monday. The stock has a market cap of $12.18 million, a P/E ratio of -0.50 and a beta of 0.09. The company has a quick ratio of 0.85, a current ratio of 1.01 and a debt-to-equity ratio of 0.36. ImmunoPrecise Antibodies has a 12-month low of $0.27 and a 12-month high of $1.59. The business’s 50 day moving average is $0.44 and its 200-day moving average is $0.48.

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

Institutional Trading of ImmunoPrecise Antibodies

An institutional investor recently raised its position 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 filing with the Securities and Exchange Commission. The firm owned 1,558,892 shares of the company’s stock after acquiring an additional 263,451 shares during the period. Ingalls & Snyder LLC owned 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent filing with the Securities and Exchange Commission. 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.