Leerink Partners analyst Daina Graybosch has maintained their bullish stance on IPHA stock, giving a Buy rating yesterday.
Daina Graybosch’s rating is based on a combination of factors that reflect both challenges and potential within Innate Pharma’s pipeline. Despite the setback with the IPH6101 program, which has faced uncertainty after Sanofi decided to return the asset, there is still optimism surrounding other projects within the company. The Nectin-4 antibody-drug conjugate IPH4502 shows promise, with expectations for a clinical update in the coming years, which could boost investor confidence.
Moreover, Innate’s wholly-owned anti-KIR3DL2 lacutamab also holds potential, especially if the company can secure a partner for a potential Phase 3 study in cutaneous T-cell lymphoma. These developments, alongside the potential resolution of partnership issues, contribute to a positive outlook for Innate Pharma, justifying the Buy rating despite the challenges faced by the ANKET platform.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.00 price target.