ImmunoPrecise Antibodies’ (IPA) Buy Rating Reaffirmed at HC Wainwright

ImmunoPrecise Antibodies (NASDAQ:IPA)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $7.00 price objective on the stock.

ImmunoPrecise Antibodies Price Performance

ImmunoPrecise Antibodies stock opened at $0.41 on Friday. The company’s 50 day simple moving average is $0.46 and its 200-day simple moving average is $0.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.01. ImmunoPrecise Antibodies has a 1 year low of $0.27 and a 1 year high of $1.71. The company has a market capitalization of $12.58 million, a price-to-earnings ratio of -0.52 and a beta of 0.09.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). ImmunoPrecise Antibodies had a negative return on equity of 73.74% and a negative net margin of 114.50%. As a group, equities research analysts expect that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC boosted its holdings in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,558,892 shares of the company’s stock after buying an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent SEC filing. 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.