Benchmark Reiterates Speculative Buy Rating for ImmunoPrecise Antibodies (NASDAQ:IPA)

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

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

ImmunoPrecise Antibodies Stock Up 5.2 %

Shares of ImmunoPrecise Antibodies stock opened at $0.38 on Tuesday. ImmunoPrecise Antibodies has a twelve month low of $0.27 and a twelve month high of $1.50. The stock has a market cap of $11.78 million, a price-to-earnings ratio of -0.49 and a beta of 0.09. The company has a current ratio of 1.01, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $0.43 and a 200 day moving average price of $0.47.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC lifted its stake in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,558,892 shares of the company’s stock after purchasing an additional 263,451 shares during the period. Ingalls & Snyder LLC owned about 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent filing with the SEC. 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.