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On Friday, H.C. Wainwright reaffirmed its Buy rating and a price target of $11.50 on Innate Pharma (EPA:IPH) S.A. (NASDAQ:IPHA), representing significant upside from the current price of $1.97. According to InvestingPro data, the company, with a market capitalization of $167.5 million, has begun evaluating IPH4502, an Antibody-Drug Conjugate (ADC) targeting Nectin-4 with an exatecan payload, for the treatment of various solid tumors.
Swayampakula Ramakanth of H.C. Wainwright noted that IPH4502 is distinct from other Nectin-4 targeting ADCs due to its ability to potentially overcome MMAE resistance. This resistance is a common reason for patients with locally advanced or metastatic urothelial carcinoma, who have been treated with enfortumab vedotin as a frontline therapy, to discontinue treatment. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.6 and holds more cash than debt on its balance sheet, providing financial flexibility for its research programs.
The analyst also highlighted that Nectin-4 is an underrecognized target not just for urothelial carcinoma but for other cancers as well. The clinical data gathered so far suggests that further investigation is warranted. The ongoing Phase 1 study includes patients with breast cancer, non-small cell lung cancer, ovarian cancer, and other Nectin-4 expressing tumors.
IPH4502 may show improved efficacy over enfortumab vedotin in these cancers, particularly because breast, lung, and ovarian cancers are known to be sensitive to the TOPO1 inhibitor payload. Innate Pharma’s management has announced plans to release new preclinical data at the annual meeting of the American Association for Cancer Research in 2024 and expects to present preliminary safety data from the Phase 1 study by the end of 2025.
The reaffirmation of the Buy rating and the $11.50 price target by H.C. Wainwright reflects confidence in Innate Pharma’s research direction and the potential of IPH4502 to make an impact in the treatment of solid tumors. While currently showing an overall ’FAIR’ financial health score according to InvestingPro, analysts expect the company to achieve profitability this year. For deeper insights into Innate Pharma’s financial outlook and detailed analysis, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Innate Pharma S.A. has maintained its Buy rating from H.C. Wainwright, with a price target set at $25.00. This follows the company’s presentation of its updated long-term corporate strategy, which highlighted anticipated data from a Phase 1/2 study of its ANKET IPH6501 treatment for relapsed/refractory B cell non-Hodgkin’s lymphoma. The data, expected between the second half of 2025 and the first half of 2026, will focus on safety and preliminary efficacy results. Analysts from H.C. Wainwright are optimistic about IPH6501’s potential to circumvent serious side effects associated with existing treatments. The company also plans to explore IPH6501 in combination with standard therapies in earlier treatment settings. Additionally, Innate Pharma’s broader ANKET pipeline includes promising candidates like the trifunctional anti-BCMA ANKET SAR™514/IPH6401, developed in collaboration with Sanofi (NASDAQ:SNY) for multiple myeloma and light-chain amyloidosis. Another collaborative effort with Sanofi involves the trifunctional anti-CD123 ANKET SAR™579/IPH6101, currently in the Phase 2 segment of a study targeting acute myeloid leukemia and other conditions. These developments underscore Innate Pharma’s strategic focus on addressing limitations in current treatments for various hematologic malignancies.
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