Shares of Innovate Biopharmaceuticals Inc (NASDAQ:INNT) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Brokers have set a 1 year consensus price objective of $35.00 for the company and are anticipating that the company will post ($0.21) EPS for the current quarter, according to Zacks. Zacks has also given Innovate Biopharmaceuticals an industry rank of 96 out of 255 based on the ratings given to its competitors.
INNT has been the topic of several recent analyst reports. ValuEngine raised Innovate Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. Zacks Investment Research raised Innovate Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Wednesday, September 26th. Finally, HC Wainwright started coverage on Innovate Biopharmaceuticals in a research report on Tuesday, July 17th. They set a “buy” rating and a $35.00 target price on the stock.
INNT traded down $0.05 during trading on Tuesday, hitting $5.35. The company’s stock had a trading volume of 223,000 shares, compared to its average volume of 471,743. Innovate Biopharmaceuticals has a twelve month low of $3.43 and a twelve month high of $50.50.
Innovate Biopharmaceuticals (NASDAQ:INNT) last issued its quarterly earnings results on Wednesday, August 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. Equities analysts predict that Innovate Biopharmaceuticals will post -1.25 earnings per share for the current year.
About Innovate Biopharmaceuticals
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.
Featured Story: Float
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Innovate Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innovate Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.