ImmunoPrecise Antibodies (NASDAQ:IPA) Issues Quarterly Earnings Results, Meets Expectations

ImmunoPrecise Antibodies (NASDAQ:IPA) released its earnings results on Friday. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06), Zacks reports. ImmunoPrecise Antibodies had a negative net margin of 114.50% and a negative return on equity of 73.74%. The company had revenue of $4.23 million for the quarter, compared to analyst estimates of $6.59 million.

ImmunoPrecise Antibodies Stock Down 11.0 %

IPA stock opened at $0.39 on Friday. The company’s 50 day moving average price is $0.44 and its 200 day moving average price is $0.48. The firm has a market capitalization of $12.18 million, a price-to-earnings ratio of -0.50 and a beta of 0.09. ImmunoPrecise Antibodies has a fifty-two week low of $0.27 and a fifty-two week high of $1.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.01.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of ImmunoPrecise Antibodies in a research report on Friday, March 14th.

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.