Innate Pharma: Attractive entry point, Kepler ups to buy

Innate Pharma SA

22/09/2020 07:36

** Kepler Cheuvreux upgrades France-based Innate Pharma
 IPH.PA  to "buy" from "hold", saying the current share price
offers an attractive entry point into a company with "strong
fundamentals"
    ** The broker points out the negative market reaction
following the announcement of an amendment to the agreement
signed with AstraZeneca  AZN.L  on monalizumab seems overdone
    ** Monalizumab, co-developed by AstraZeneca and Innate
Pharma, will enter phase III in H2 as planned  urn:newsml:reuters.com:*:nFWN2G40NI
    ** The brokerage says the development of lacutamab is back
on track and the rate of new Lumoxiti patients, which has slowed
due to COVID-19, does not impact the potential of the product
over the long-term
    ** It adds the company has a well-balanced portfolio of
immuno-oncology drugs against cancer and a robust cash position
to finance the development of monalizumab

 ((Federica.mileo@thomsonreuters.com))