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H.C. Wainwright has reiterated its Buy rating and $5.00 price target on ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA), representing significant upside from the current price of $0.73, following the company’s announcement of two novel AI-based drug discoveries. According to InvestingPro data, IPA has shown strong momentum with an 81% return over the past six months.
The discoveries focus on designing therapies against obesity and infectious disease, representing potential validation for the company’s AI platform acquired through its March 2022 purchase of BioStrand for €20 million.
H.C. Wainwright analyst Swayampakula Ramakanth noted these announcements "help mitigate some of the concerns the market has had regarding the ROI" from the BioStrand acquisition made by current management.
The research firm believes the platform’s achievements to date are "encouraging" given the importance of AI-based drug discovery in the current regulatory environment, though complete validation would require either new partnerships bringing non-dilutive funding or attracting development suitors.
H.C. Wainwright maintains its 12-month price target of $5 per diluted share for ImmunoPrecise Antibodies Ltd.
In other recent news, ImmunoPrecise Antibodies Ltd. has reported consistent third-quarter revenues of CAD$6.2 million for fiscal year 2025, matching the previous year’s performance. However, the company faced a significant net loss of $21.5 million, primarily due to a one-time impairment charge. Excluding this charge, the net losses would have aligned with the previous year’s figures. H.C. Wainwright adjusted its price target for ImmunoPrecise to $5.00, down from $7.00, while maintaining a Buy rating. This change comes after the company announced a strategic partnership expected to generate $8 million in revenue over 18 months, with a potential increase to $10 million.
The partnership aims to advance the development of Antibody-Drug Conjugates and bispecific antibodies for cancer treatment. Meanwhile, ImmunoPrecise’s AI subsidiary, BioStrand, has shown strong growth, with revenue rising to C$1.0 million during the first three quarters of FY2025. Additionally, H.C. Wainwright reaffirmed a Buy rating with a $50 target, citing favorable industry trends and the potential impact of FDA changes on drug development practices. Benchmark also maintained a Speculative Buy rating, highlighting the company’s stable revenue generation and long-term potential in drug development services.
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