ImmunoPrecise Antibodies price target lowered to $7 from $9 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on ImmunoPrecise Antibodies (IPA) to $7 from $9 and keeps a Buy rating on the shares following the fiscal Q2 report. Management laid out a strategy that allows for consolidating most of the company’s resources in one geo-economic region to focus on areas that seem very relevant to the drug discovery industry, the analyst tells investors in a research note. The firm says ImmunoPrecise is positioning itself for long-term growth.