Innovate Biopharmaceuticals Inc (NASDAQ:INNT)’s share price traded up 14.7% during trading on Monday . The company traded as high as $7.96 and last traded at $7.96. 1,373,900 shares traded hands during trading, an increase of 194% from the average session volume of 467,035 shares. The stock had previously closed at $6.94.
A number of equities analysts have recently commented on the stock. Seaport Global Securities reaffirmed a “buy” rating on shares of Innovate Biopharmaceuticals in a report on Wednesday, June 13th. HC Wainwright assumed coverage on shares of Innovate Biopharmaceuticals in a report on Tuesday, July 17th. They set a “buy” rating and a $35.00 price objective for the company. ValuEngine downgraded shares of Innovate Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, Zacks Investment Research raised shares of Innovate Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Wednesday.
Innovate Biopharmaceuticals (NASDAQ:INNT) last released its quarterly earnings data on Wednesday, August 15th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.05. Innovate Biopharmaceuticals had a negative net margin of 166.63% and a negative return on equity of 1,098.06%. equities research analysts anticipate that Innovate Biopharmaceuticals Inc will post -1.25 EPS for the current year.
Innovate Biopharmaceuticals Company Profile (NASDAQ:INNT)
Innovate Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for autoimmune and inflammatory diseases. The company's lead product candidate is INN-202 that has completed Phase 2b clinical trial for the treatment of celiac disease. It also develops INN-108, which has completed Phase 1 clinical trial to treat mild-to-moderate ulcerative colitis; INN-217 for the treatment of non-alcoholic steatohepatitis and microbiome; and INN-289 to treat crohn's disease.
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