Benchmark Reaffirms “Speculative Buy” Rating for ImmunoPrecise Antibodies (NASDAQ:IPA)

ImmunoPrecise Antibodies (NASDAQ:IPA)‘s stock had its “speculative buy” rating reiterated by analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $3.00 target price on the stock.

Separately, HC Wainwright cut their target price on ImmunoPrecise Antibodies from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday.

ImmunoPrecise Antibodies Price Performance

Shares of NASDAQ:IPA opened at $0.38 on Tuesday. The company has a market cap of $11.78 million, a PE ratio of -0.49 and a beta of 0.09. ImmunoPrecise Antibodies has a fifty-two week low of $0.27 and a fifty-two week high of $1.50. The firm has a 50-day simple moving average of $0.43 and a 200 day simple moving average of $0.47. 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 (NASDAQ:IPA) last posted its earnings results on Friday, March 28th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $4.23 million during the quarter, compared to analyst estimates of $6.59 million. ImmunoPrecise Antibodies had a negative return on equity of 73.74% and a negative net margin of 114.50%. On average, sell-side analysts anticipate that ImmunoPrecise Antibodies will post -0.27 EPS for the current year.

Institutional Investors Weigh In On 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 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,558,892 shares of the company’s stock after acquiring an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned 5.41% of ImmunoPrecise Antibodies worth $996,000 at the end of the most recent quarter. Institutional investors 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.