IPHA Innate Pharma S.A. - American Depositary Shares
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Apr 1, 2026
$1.56
· of 52w range
· above low
· to high
$1.1752w low
$2.7152w high
P/E
-3.2
EPS
$-0.55
Revenue
$9M
your badges
52W Range
$1–$3
Analyst Rating
BUY
Price Target
$7
P/E
-3.2
ROE
764.2%
Net Profit Margin
-546.1%
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IPHA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.56
P/E
-3.2
EPS
$-0.55
Revenue
$9M
ROE
764.2%
52W Range
$1–$3
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$9M2017-12-31 → 2025-12-31
EPS$-0.552017-12-31 → 2025-12-31
Free Cash Flow$-53M2019-12-31 → 2025-12-31
Net margin-546.1%2019-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | IPHA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -3.25Y avg ≈-9.9 | ≈-9.9 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | IPHA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin | -599.8%5Y avg ≈-234.0% | ≈-234.0% | · | · | |
| EBITDA Margin | -584.4%5Y avg ≈-222.0% | ≈-222.0% | · | · | |
| Pretax Margin | -546.1%5Y avg ≈-217.8% | ≈-217.8% | · | · | |
| Net Profit Margin | -546.1%5Y avg ≈-223.8% | ≈-223.8% | · | · | |
| ROA | -56.6%5Y avg ≈-27.6% | ≈-27.6% | · | · | |
| ROE | 764.2%5Y avg ≈95.0% | ≈95.0% | · | · | |
| ROIC | 248.8%5Y avg ≈-102.0% | ≈-102.0% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | IPHA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio | 1.35Y avg ≈2.5 | ≈2.5 | · | · | |
| Quick Ratio | 1.15Y avg ≈2.2 | ≈2.2 | · | · | |
| Interest Coverage | -122.75Y avg ≈-117.3 | ≈-117.3 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | IPHA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.2 | ≈0.2 | · | · | |
| Receivables Turnover | 1.05Y avg ≈1.3 | ≈1.3 | · | · | |
| Revenue / Employee | ≈$75.0K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-219.8%
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $-0.34 | $-0.07 | -380.9% | |
| March 31, 2026 | $-0.55 | $-0.16 | -240.3% | |
| June 30, 2019 | $0.20 | $0.32 | -38.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9M | $20M | $62M | $58M | $25M | $70M | $85M | $94M | $44M | |
| R&D Expense | $44M | $52M | $56M | $52M | $47M | $50M | $63M | $70M | $67M | |
| SG&A Expense | $19M | $20M | $18M | $22M | $26M | $19M | $21M | $18M | $17M | |
| Operating Income | $-54M | $-52M | $-13M | $-57M | $-48M | $1M | $2M | $5M | $-40M | |
| Interest Expense | $440.0K | $566.0K | $640.0K | $288.0K | $312.0K | $341.0K | $204.0K | $102.0K | $113.0K | |
| Interest Income | $8M | $6M | $7M | $5M | $6M | $5M | $11M | $6M | $3M | |
| Pretax Income | $-49M | $-49M | $-8M | $-58M | $-45M | $-829.0K | $8M | $3M | $-48M | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $-333.0K | $368.0K | |
| Net Income | $-49M | $-49M | $-8M | $-58M | $-53M | $-64M | $-21M | $3M | $-48M | |
| EPS (Basic) | $-0.55 | $-0.61 | $-0.09 | $-0.73 | $-0.66 | $-0.81 | $-0.31 | $0.05 | $-0.89 | |
| EPS (Diluted) | $-0.55 | $-0.61 | $-0.09 | $-0.73 | $-0.66 | $-0.81 | $-0.31 | $0.05 | $-0.89 | |
| Shares (Basic) | 89,591,001 | 81,051,798 | 80,453,282 | 79,639,826 | 79,542,627 | 78,934,960 | 66,908,389 | 58,776,712 | 54,351,967 | |
| EBITDA | $-53M | $-50M | $-8M | $-53M | $-43M | $-49M | $-11M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $28M | $66M | $71M | $84M | $104M | $137M | $203M | $152M | $99M | |
| Receivables | $12M | $5M | $56M | $38M | $18M | $22M | $19M | $152M | $21M | |
| Current Assets | $47M | $86M | $148M | $140M | $138M | $173M | $238M | $320M | $138M | |
| PP&E (Net) | · | · | · | $9M | $10M | $12M | $12M | $11M | $11M | |
| Intangibles | $0 | $0 | $416.0K | $2M | $44M | $46M | $97M | $85M | $46M | |
| Total Assets | $63M | $111M | $175M | $199M | $267M | $307M | $401M | $451M | $255M | |
| Accounts Payable | $15M | $16M | $17M | $21M | $29M | $30M | $50M | $92M | $25M | |
| Current Liabilities | $37M | $33M | $40M | $41M | $80M | $45M | $122M | $197M | $74M | |
| Retained Earnings | · | · | · | · | · | · | $-135M | $-139M | $-104M | |
| Stockholders' Equity | $-22M | $9M | $52M | $54M | $107M | $156M | $217M | $167M | $99M |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1M | $2M | $5M | $4M | $5M | $9M | $14M | $7M | $4M | |
| Other Non-cash | $-5M | $41M | $-30M | $35M | $-10M | $-1M | $39M | · | · | |
| Operating Cash Flow | $-53M | $-7M | $-33M | $-19M | $-58M | $-52M | $35M | $-33M | $-48M | |
| CapEx | $140.0K | $391.0K | $351.0K | $535.0K | $929.0K | $907.0K | $1M | $873.0K | $3M | |
| Investing Cash Flow | $7M | $9M | $21M | $2M | $-917.0K | $-13M | $-62M | $24M | $-29M | |
| Financing Cash Flow | $6M | $-6M | $-2M | $-2M | $27M | $-1M | $78M | $61M | $915.0K | |
| Free Cash Flow | $-53M | $-7M | $-33M | $-20M | $-59M | $-53M | $34M | · | · | |
| Levered FCF | $-53M | $-8M | $-34M | $-20M | $-60M | $-53M | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -599.8% | -256.3% | -20.5% | -99.6% | -193.6% | -88.1% | -31.5% | · | · | |
| Net Margin | -546.1% | -245.9% | -12.3% | -100.7% | -213.8% | -90.8% | -24.2% | · | · | |
| Pretax Margin | -546.1% | -245.9% | -12.3% | -100.5% | -184.1% | -90.8% | -24.2% | · | · | |
| EBITDA Margin | -584.4% | -246.4% | -12.3% | -91.9% | -175.1% | -69.3% | -12.3% | · | · | |
| ROA | -56.6% | -34.6% | -4.0% | -24.4% | -18.4% | -18.1% | -4.9% | · | · | |
| ROE | 764.2% | -162.9% | -14.3% | -71.9% | -40.1% | -34.3% | -10.8% | · | · | |
| ROIC | 248.8% | -583.8% | -24.4% | -106.0% | -44.5% | -39.8% | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 2.6 | 3.7 | 3.4 | 1.7 | 3.8 | 2.0 | · | · | |
| Quick Ratio | 1.1 | 2.2 | 3.2 | 3.0 | 1.5 | 3.5 | 1.8 | · | · | |
| Interest Coverage | -122.7 | -91.1 | -19.8 | -199.4 | -153.3 | -182.0 | -132.6 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.3 | 0.2 | 0.1 | 0.2 | 0.2 | · | · | |
| Receivables Turnover | 1.0 | 0.7 | 1.3 | 2.0 | 1.2 | 3.5 | 1.0 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS (TTM) | $-0.55 | $-0.61 | $-0.09 | $-0.73 | $-0.66 | $-0.81 | $-0.31 | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9M | $20M | $62M | $58M | $25M | $70M | $85M | · | · | |
| Net Income TTM | $-49M | $-49M | $-8M | $-58M | $-53M | $-64M | $-21M | · | · | |
| P/E | -3.2 | -3.0 | -31.1 | -5.1 | -6.9 | -5.0 | -20.8 | · | · | |
| Earnings Yield | -31.4% | -33.1% | -3.2% | -19.6% | -14.5% | -19.8% | -4.8% | · | · |
Per Share
| Metric | Trend | Q4 2022 |
|---|---|---|
| EPS (TTM) | $-0.73 |
Valuation (TTM)
| Metric | Trend | Q4 2022 |
|---|---|---|
| Revenue TTM | $58M | |
| Net Income TTM | $-58M | |
| P/E | -5.1 | |
| Earnings Yield | -19.6% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $9M | $20M | $62M | $58M | $25M |
| Operating Margin % | -599.8% | -256.3% | -20.5% | -99.6% | -193.6% |
| Net Income | $-49M | $-49M | $-8M | $-58M | $-53M |
| Diluted EPS | $-0.55 | $-0.61 | $-0.09 | $-0.73 | $-0.66 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 1.3 | 2.6 | 3.7 | 3.4 | 1.7 |
| Quick Ratio | 1.1 | 2.2 | 3.2 | 3.0 | 1.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-53M | $-7M | $-33M | $-20M | $-59M |
Institutional owners (13F) 10 filers · $354K total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
10
Value held
$354K
New positions
3
Exited positions
2
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 3 (+2 vs prior Q) | 2 (-1 vs prior Q) | 2 (+2 vs prior Q) | 3 (-3 vs prior Q) | +8K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Lion Point Capital, LP | $149,318 | 81,151 | 42.17% | Shares |
| MORGAN STANLEY | $80,084 | 43,524 | 22.62% | Shares |
| SmartHarvest Portfolios, LLC | $43,700 | 23,750 | 12.34% | Shares |
| XTX Topco Ltd | $27,839 | 15,130 | 7.86% | Shares |
| CITADEL ADVISORS LLC | $22,891 | 12,441 | 6.47% | Shares |
| JANE STREET GROUP, LLC | $18,971 | 10,310 | 5.36% | Shares |
| RHUMBLINE ADVISERS | $8,681 | 4,719 | 2.45% | Shares |
| UBS Group AG | $2,508 | 1,363 | 0.71% | Shares |
| Farther Finance Advisors, LLC | $38 | 21 | 0.01% | Shares |
| GAMMA Investing LLC | $17 | 9 | 0.00% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Bpifrance Participations S.A., CDC Croissance S.A., Caisse des depots et consignations, EPIC Bpifrance, Bpifrance S.A. ×4 filings | May 7, 2025 | 7.90% | Amendment | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
IPHA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 8 analysts
BUY
Median target
$7.00
+348.7%
2 25.0%
Strong Buy
5 62.5%
Buy
1 12.5%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
3 analysts · 2026-10-01Mean target $6.67 +327.4%
← Below all targets
Current price $1.56
Low$4.00
Mean$6.67
High$9.00
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Source: SEC 20-F filed Apr 1, 2026