Innate Pharma shares retain Buy rating on long-term strategy

On Friday, H.C. Wainwright reaffirmed its Buy rating and $25.00 price target on shares of Innate Pharma (EPA:IPH) S.A. (NASDAQ:IPHA), currently trading at $1.67, following the company's presentation of its updated long-term corporate strategy earlier in the week.

With a market capitalization of $150 million, InvestingPro analysis indicates the stock is currently undervalued, while analysts maintain a strong buy consensus with targets ranging from $2.56 to $11.50. The firm's positive outlook is anchored in the anticipated data from a Phase 1/2 study of Innate's ANKET IPH6501, a tetra-specific CD20/IL-2-targeting treatment for relapsed/refractory B cell non-Hodgkin’s lymphoma (B-NHL).

The data, expected to be presented in the second half of 2025 and first half of 2026, will reveal safety and preliminary efficacy results. Innate Pharma also plans to test IPH6501 in combination with standard-of-care therapies in earlier treatment settings. H.C. Wainwright's analysts underscored the potential of IPH6501 to avoid serious cytokine release syndrome (CRS) and immune effector cell-associated neurotoxicity syndrome (ICANS), which are concerns with existing CD20-targeting T cell engagers for this disease.

The optimism extends to Innate Pharma's broader ANKET pipeline portfolio, which includes the trifunctional anti-BCMA ANKET SAR™514/IPH6401, currently in Phase 1 trials for relapsed/refractory multiple myeloma and light-chain amyloidosis.

This candidate is being developed in collaboration with Sanofi (NASDAQ:SNY), which is also involved with the trifunctional anti-CD123 ANKET SAR™579/IPH6101, now in the Phase 2 segment of a Phase 1/2 study targeting relapsed/refractory acute myeloid leukemia (AML), B-cell acute lymphoblastic leukemia (B-ALL), and high-risk myelodysplastic syndrome (HR-MDS).

Innate Pharma's strategic focus on developing these innovative therapies, particularly IPH6501, is a significant element of the reiterated Buy rating and price target. The company's efforts to address the limitations of current treatments for various hematologic malignancies positions it as a potentially significant player in the oncology market.

While current financials show negative EBITDA of -$38.52M, InvestingPro subscribers can access detailed analysis including 7 additional ProTips and comprehensive financial metrics in the Pro Research Report, essential for understanding the company's growth trajectory and investment potential.

In other recent news, Innate Pharma SA (OTC:IPHYF) has revealed its Q3 2024 earnings, emphasizing its oncology pipeline. The company's leading asset, lacutamab, shows promise for accelerated FDA approval in Sézary syndrome. Furthermore, Phase 1 trials for ADC IPH45 are set to commence by Q1 2025, with eight clinical assets expected early next year.

Innate Pharma is also fostering partnerships with AstraZeneca (NASDAQ:AZN) and Sanofi, evidenced by positive Phase 3 trial feedback for Monalizumab. The company's financial standing remains robust, boasting a cash position of €96.4 million, projected to last through the end of 2025.

In terms of future developments, Innate Pharma is actively seeking partners for a confirmatory Phase 3 study for lacutamab, and anticipates regulatory discussions and clinical data updates for IPH6501 and IPH4502 in 2025. The company is also preparing for upcoming data presentations at SITC and ASH to showcase its clinical programs.

These are just some of the recent developments at Innate Pharma, reflecting the company's commitment to maximizing the commercial potential of its therapies and navigating regulatory landscapes.

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