H.C. Wainwright has adjusted its financial outlook for Innate Pharma (IPHA, Financial), reducing the price target for the company's shares to $11 from a prior estimate of $11.50. Despite this revision, the firm continues to maintain a Buy rating for the stock.
The brokerage firm has also revised the anticipated launch dates for Innate Pharma's key product, IPH6101. The U.S. market introduction has been postponed to 2029, a delay from the earlier forecasted date of 2027. Similarly, the timeline for the product's release in the European Union has been shifted to 2030, moving from the previously planned year of 2028.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Innate Pharma SA (IPHA, Financial) is $7.24 with a high estimate of $11.33 and a low estimate of $2.49. The average target implies an upside of 262.64% from the current price of $2.00. More detailed estimate data can be found on the Innate Pharma SA (IPHA) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, Innate Pharma SA's (IPHA, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Innate Pharma SA (IPHA, Financial) in one year is $0.65, suggesting a downside of 67.43% from the current price of $1.9955. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Innate Pharma SA (IPHA) Summary page.
IPHA Key Business Developments
Release Date: March 27, 2025
- Revenue and Other Income: €20.1 million in 2024, primarily from collaboration licensing agreements (€12.6 million) and a research tax credit (€7.5 million).
- Operating Expenses: €71.7 million in 2024, with 73% related to R&D.
- General and Administrative Expenses: €19.7 million in 2024, an increase of €1.4 million from the previous year.
- R&D Expenses: €52 million in 2024, a reduction of €4 million from the prior year.
- Cash and Financial Assets: €91.1 million as of December 31, 2024.
- Financial Liabilities: €31 million, down from €39.9 million at the end of 2023.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Innate Pharma SA (IPHA, Financial) successfully recruited the first patients into the phase 1 dose-finding trial for IPH 65, marking a critical step in its clinical development.
- IPH 45, a nectin-4 targeted ADC, dosed its first patients in January 2025 following IND clearance, indicating progress in their ADC program.
- Lecutumab received FDA breakthrough therapy designation, potentially accelerating its approval process.
- The company has a robust pipeline with 8 innovative assets currently in the clinic, showcasing their R&D productivity.
- Innate Pharma SA (IPHA) has sufficient cash to fund operations through mid-2026, providing financial stability for ongoing projects.
Negative Points
- Operating expenses from continuing operations amounted to 71.7 million in 2024, with a significant portion allocated to R&D, indicating high operational costs.
- General and administrative expenses increased by 1.4 million compared to the previous year, reflecting rising operational costs.
- IPH 6,401's development is being refocused from multiple myeloma to autoimmune diseases, which may be seen as a speculative move.
- The company is still in discussions for partnerships, indicating potential delays in commercialization and strategic collaborations.
- The competitive landscape in the non-Hodgkin lymphoma space is crowded, posing challenges for IPH 6,501's market entry.
