ImmunoPrecise Antibodies’ (IPA) “Speculative Buy” Rating Reaffirmed at Benchmark

Benchmark reiterated their speculative buy rating on shares of ImmunoPrecise Antibodies (NASDAQ:IPA) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $3.00 price objective on the stock.

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

ImmunoPrecise Antibodies Stock Performance

NASDAQ IPA opened at $0.36 on Tuesday. The company has a fifty day moving average price of $0.43 and a 200-day moving average price of $0.47. The firm has a market cap of $11.20 million, a price-to-earnings ratio of -0.46 and a beta of 0.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.01 and a quick ratio of 0.85. ImmunoPrecise Antibodies has a 1 year low of $0.27 and a 1 year high of $1.51.

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

Hedge Funds Weigh In On ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC lifted its holdings in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to its most recent 13F filing with the Securities and 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 about 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.