ImmunoPrecise Antibodies (NASDAQ:IPA) Stock Rating Reaffirmed by HC Wainwright

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

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

ImmunoPrecise Antibodies Price Performance

Shares of NASDAQ:IPA opened at $0.55 on Tuesday. ImmunoPrecise Antibodies has a twelve month low of $0.53 and a twelve month high of $2.60. The company has a current ratio of 1.41, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The company has a market cap of $14.34 million, a PE ratio of -1.33 and a beta of 0.10. The company’s 50 day moving average is $0.80 and its 200 day moving average is $1.10.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its quarterly earnings data on Monday, July 29th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.42). The business had revenue of $4.76 million during the quarter, compared to analyst estimates 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, sell-side analysts forecast that ImmunoPrecise Antibodies will post -0.25 EPS for the current year.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC raised its position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,910 shares of the company’s stock after buying an additional 26,310 shares during the period. Renaissance Technologies LLC owned about 0.24% of ImmunoPrecise Antibodies worth $65,000 at the end of the most recent quarter. Institutional investors and hedge funds own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Company Profile

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.