Innate Pharma SA (IPH) AI Stock Analysis

• Market Cap: $148.02M
• Dividend Yield: N/A
• Average Volume (3M): 241.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.00
• Revenue Growth: -75.86%
• EPS Growth: -30.54%
• Country: FR
• Employees: 181
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.25
• Shares Outstanding: 92,185,470
• 10 Day Avg. Volume: 331,782
• 30 Day Avg. Volume: 241,776
• PEG Ratio: >-0.01
• Price to Book (P/B): 13.31
• Price to Sales (P/S): 9.32
• P/FCF Ratio: -16.14
• Enterprise Value/Market Cap: 0.67
• Enterprise Value/Revenue: 7.86
• Enterprise Value/Gross Profit: -3.23
• Enterprise Value/Ebitda: -2.06
• 1Y Price Target: $2.21
• Price Target Upside: 39.29% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: €1.50 ▼(-5.66% Downside)

Innate Pharma SA's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and high leverage. While the strategic focus on high-value clinical assets is promising, concerns over reduced R&D spending and leadership changes present additional risks. The technical indicators suggest a neutral to slightly bearish outlook, and the valuation metrics reflect the company's current unprofitability.

Positive Factors

Strategic Focus on High-Value Clinical Assets

Focusing on high-value clinical assets can lead to breakthrough therapies, enhancing long-term growth potential and competitive positioning in oncology.

Financial Stability

A strong cash position provides financial stability, enabling continued investment in strategic initiatives and clinical trials, supporting long-term growth.

Lacutamab's Potential in CTCL

FDA breakthrough designation for lacutamab enhances its market potential, accelerating development and approval processes, boosting long-term revenue prospects.

Negative Factors

Reduction in R&D Expenses

Reduced R&D spending may slow innovation and development of new therapies, potentially impacting future growth and competitive edge in the biotech industry.

CSO Eric Vivier's Departure

The departure of a key scientific leader could disrupt strategic continuity and innovation, affecting the company's ability to advance its research agenda.

Strategic Deprioritization of NK Cell Programs

Deprioritizing NK cell programs may limit future innovation in a promising area of cancer treatment, potentially reducing long-term competitive advantage.

Innate Pharma SA Business Overview & Revenue Model

Company Description

Innate Pharma S.A., a biotechnology company, discovers, develops, and commercializes therapeutic antibodies for the treatment of oncology indications in France and internationally. The company's products include Lacutamab (IPH4102), an anti-KIR3DL2 antibody, which is in Phase II clinical trials for the treatment of cutaneous T-cell and peripheral T-cell lymphoma, as well as in Phase II clinical trials to treat refractory sézary syndrome; Monalizumab, an immune checkpoint inhibitor that is in Phase III clinical trial to treat advanced solid tumors comprising colorectal and lung cancer, as well as head and neck cancer; Avdoralimab (IPH5401), a monoclonal antibody blocking C5a binding to C5aR1 that is in Phase II clinicals trials for the treatment of COVID-19, bullous pemphigoid, chronic spontaneous urticaria, and other inflammatory diseases; IPH5201, a blocking antibody that is in Phase 1 clinical trials targeting the CD39 immunosuppressive pathway; IPH5301, an anti-CD73 antibody targeting the immunosuppressive adenosine pathway to promote antitumor immunity; and IPH6101, a NKp46-based NK cell engager for the generation and evaluation of up to two bispecific NK cell engagers. Its products in preclinical trials are IPH43, an anti-MICA/B antibody drug conjugate; Anti-Siglec-9, an antibody program; IPH65, a tetraspecific proprietary antibody; IPH25, a checkpoint inhibitor; and IPH62 and IPH64 programs. Innate Pharma S.A. has licensing and collaboration agreements with AstraZeneca, Novo Nordisk A/S, Sanofi, and Orega Biotech; and co-development and license agreement with MedImmune Limited. The company was incorporated in 1999 and is headquartered in Marseille, France.

How the Company Makes Money

Innate Pharma generates revenue primarily through collaborations and partnerships with pharmaceutical companies, which may include upfront payments, milestone payments, and royalties on sales of products developed from their technology. The company also engages in clinical trial collaborations, licensing agreements, and may receive grant funding for specific research projects. Key revenue streams include the monetization of its drug candidates, particularly those in late-stage development or with promising clinical trial results, as well as any potential sales of products that successfully reach the market. Significant partnerships with larger pharmaceutical firms enhance its financial stability and growth prospects.

Innate Pharma SA Financial Statement Overview

Summary

Innate Pharma SA faces significant financial challenges, including a substantial decline in revenue, negative profit margins, and high leverage. The company's ability to generate cash flow is under pressure, although there is some capacity to cover net income with free cash flow. Overall, the financial health of the company is concerning, with substantial risks related to profitability and debt management.

Income Statement

Innate Pharma SA has experienced a significant decline in revenue, with a revenue growth rate of -62.64% in the most recent year. The company also shows negative profit margins across the board, including a net profit margin of -391.94% and an EBIT margin of -419.77%. These figures indicate substantial challenges in generating profits and managing costs effectively.

Balance Sheet

The company's balance sheet reveals a high debt-to-equity ratio of 3.51, indicating a heavy reliance on debt financing. Return on equity is negative at -560.01%, reflecting poor profitability relative to shareholder equity. However, the equity ratio stands at 7.95%, suggesting some level of asset financing through equity.

Cash Flow

Cash flow analysis shows a negative free cash flow growth rate of -60.36%, indicating declining cash generation capabilities. The operating cash flow to net income ratio is -0.21, highlighting challenges in converting income into cash flow. However, the free cash flow to net income ratio is slightly positive at 1.06, suggesting some ability to cover net income with free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.64M	12.62M	51.90M	49.64M	12.11M	69.77M
Gross Profit	-30.79M	-31.86M	5.62M	6.01M	-34.89M	20.07M
EBITDA	-48.11M	-50.99M	-1.84M	-61.30M	-43.23M	13.30M
Net Income	-46.05M	-49.47M	-7.57M	-58.10M	-52.81M	-63.98M
Balance Sheet
Total Assets	92.94M	111.06M	184.19M	207.86M	267.50M	307.42M
Cash, Cash Equivalents and Short-Term Investments	60.03M	80.77M	92.46M	101.48M	119.84M	151.64M
Total Debt	27.03M	31.37M	39.89M	42.25M	44.25M	19.09M
Total Liabilities	87.79M	102.22M	132.29M	153.71M	160.06M	151.45M
Stockholders Equity	5.14M	8.83M	51.90M	54.15M	107.44M	155.97M
Cash Flow
Free Cash Flow	-41.26M	-7.29M	-34.91M	-20.28M	-59.79M	-63.09M
Operating Cash Flow	-41.10M	-6.90M	-32.56M	-19.15M	-58.46M	-51.81M
Investing Cash Flow	15.24M	9.20M	20.63M	1.88M	-917.00K	-13.37M
Financing Cash Flow	8.79M	-6.01M	-1.97M	-1.83M	26.82M	-1.14M

Innate Pharma SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:IPH, the sentiment is Negative. The current price of 1.59 is below the 20-day moving average (MA) of 1.67, below the 50-day MA of 1.71, and below the 200-day MA of 1.81, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 44.73 is Neutral, neither overbought nor oversold. The STOCH value of 18.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:IPH.

Innate Pharma SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IPH	47 Neutral	$148.02M	-2.92	-271.32%	―	-75.86%	-30.54%

Innate Pharma SA Corporate Events

Innate Pharma Receives FDA Clearance for Phase 3 Lacutamab Trial

Innate Pharma S.A. announced that the FDA has cleared the confirmatory Phase 3 trial, TELLOMAK 3, for lacutamab in cutaneous T-cell lymphomas (CTCL), following a review with no further comments. This trial aims to demonstrate the efficacy of lacutamab in patients with Sézary syndrome and Mycosis fungoides who have failed previous systemic therapies. The trial’s initiation is planned for the first half of 2026, with potential accelerated approval for Sézary syndrome. This development marks a significant milestone for Innate Pharma, building on positive Phase 2 data and potentially enhancing its position in the CTCL treatment landscape.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR1.50 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

Innate Pharma Schedules Q3 2025 Results Conference Call

On November 5, 2025, Innate Pharma announced a conference call and webcast scheduled for November 13, 2025, to discuss its third-quarter 2025 results and business updates. The event will feature key executives, including the CEO and CFO, and will provide insights into the company’s recent progress. The announcement reflects Innate Pharma’s ongoing commitment to transparency and communication with its stakeholders, potentially impacting its market perception and investor relations.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR1.50 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

Innate Pharma to Host Event on Lacutamab’s Progress and Market Potential

Innate Pharma announced it will host an analyst and investor event on October 28, 2025, focusing on its lead product, lacutamab, which is progressing towards potential accelerated approval in Sézary syndrome (SS) and the initiation of a confirmatory Phase 3 trial. The event will feature insights from T-cell lymphoma expert Dr. Pierluigi Porcu on the Phase 2 TELLOMAK trial results and market analysis from ZS Associates. Innate Pharma’s management will discuss the regulatory pathway and commercial opportunities for lacutamab, highlighting its potential to improve outcomes for patients with cutaneous T-cell lymphoma (CTCL) and create value for shareholders.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR1.50 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

Innate Pharma Reports First Half 2025 Earnings

Innate Pharma S.A. is a clinical-stage biotechnology company focused on developing immunotherapy treatments against cancer, leveraging the innate immune system through monoclonal antibodies, NK Cell Engagers, and antibody-drug conjugates. Based in Marseille, France, it is publicly traded on Euronext Paris and Nasdaq.

Innate Pharma’s Strategic Shift in Earnings Call

In the recent earnings call, Innate Pharma S.A. conveyed a strategic pivot towards prioritizing high-value clinical assets, reflecting a positive outlook for future growth. The sentiment was largely optimistic, focusing on promising progress in key trials. However, there were underlying concerns regarding reduced R&D spending and the departure of a key scientific leader, which could impact future innovation. Despite these challenges, the company maintains a stable financial position, supporting its strategic objectives.

Innate Pharma Reports H1 2025 Progress and Strategic Focus

Innate Pharma SA reported its first half 2025 business update and financial results, highlighting significant progress in its clinical pipeline. The company is advancing its IPH4502 Nectin-4 ADC through Phase 1 trials and preparing for a Phase 3 trial of lacutamab following its FDA Breakthrough Therapy Designation. Strategic priorities include focusing on high-value clinical assets and streamlining operations, with a planned 30% reduction in staffing. A €15 million equity investment by Sanofi and a strong cash position of €70.4 million as of June 30, 2025, support Innate’s continued development efforts.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR3.10 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

Innate Pharma Releases H1 2025 Financial Report

On September 16, 2025, Innate Pharma SA’s Board of Directors approved the interim condensed consolidated financial statements for the first half of 2025, which were subsequently reviewed by the company’s statutory auditors. The report highlights the company’s ongoing efforts in developing its portfolio of drug candidates, including ANKET® and IPH4502, aimed at treating multiple tumor types. This financial update provides stakeholders with insights into Innate Pharma’s current financial health and strategic direction in the competitive biotechnology industry.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR3.10 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

Innate Pharma to Participate in European Midcap Event

Innate Pharma announced its participation in the 25th European Midcap Event from September 30 to October 1, 2025, in Paris, France. This event is significant for fostering strategic meetings and financing opportunities, potentially impacting Innate Pharma’s industry positioning and stakeholder engagement.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR3.10 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

Innate Pharma S.A. to Host Conference Call on 2025 Financial Results

Innate Pharma S.A. announced a conference call and webcast scheduled for September 17, 2025, to discuss its financial results and business updates for the first half of 2025. The event will feature key executives, including CEO Jonathan Dickinson, and will provide insights into the company’s progress and strategic initiatives. This announcement is significant for stakeholders as it reflects Innate Pharma’s ongoing commitment to transparency and engagement with investors, potentially impacting its market positioning and investor confidence.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR3.10 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

Innate Pharma Reports Share and Voting Rights Update as of September 1, 2025

On September 2, 2025, Innate Pharma S.A. announced its total number of shares and voting rights as of September 1, 2025. The company reported 92,185,473 ordinary shares, 6,419 Preferred Shares 2016, and 7,581 Preferred Shares 2017, with a total of 93,962,943 theoretical voting rights and 93,944,368 exercisable voting rights. This update ensures market transparency and informs stakeholders about the company’s current shareholding structure.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR3.10 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.