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IPA

ImmunoPrecise Antibodies TSXV:IPA Stock Report

Last Price

CA$5.45

Market Cap

CA$135.4m

7D

-20.7%

1Y

-34.1%

Updated

25 Sep, 2022

Data

Company Financials +
IPA fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance0/6
Financial Health4/6
Dividends0/6

IPA Stock Overview

ImmunoPrecise Antibodies Ltd., together with its subsidiaries, engages in antibody production and provision of related services in the United States, Canada, Europe, Australia, and internationally.

ImmunoPrecise Antibodies Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ImmunoPrecise Antibodies
Historical stock prices
Current Share PriceCA$5.45
52 Week HighCA$8.81
52 Week LowCA$4.52
Beta0.062
1 Month Change-30.22%
3 Month Change5.83%
1 Year Change-34.10%
3 Year Change87.93%
5 Year Change17.20%
Change since IPO-15.50%

Recent News & Updates

Shareholder Returns

IPACA Life SciencesCA Market
7D-20.7%-17.5%-4.8%
1Y-34.1%-35.1%-7.2%

Return vs Industry: IPA exceeded the Canadian Life Sciences industry which returned -35.1% over the past year.

Return vs Market: IPA underperformed the Canadian Market which returned -7.2% over the past year.

Price Volatility

Is IPA's price volatile compared to industry and market?
IPA volatility
IPA Average Weekly Movement9.9%
Life Sciences Industry Average Movement9.8%
Market Average Movement9.9%
10% most volatile stocks in CA Market18.3%
10% least volatile stocks in CA Market3.8%

Stable Share Price: IPA is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: IPA's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198385Jennifer Bathhttps://www.ipatherapeutics.com

ImmunoPrecise Antibodies Ltd., together with its subsidiaries, engages in antibody production and provision of related services in the United States, Canada, Europe, Australia, and internationally. The company offers a range of antibodies, enzymes, enzyme activity assays, arthritis animal products, proteins, deiminated proteins, organoid growth factors, and hybridoma products for research purposes. Its contract research organization services include custom antigen modeling, design, and manufacturing; B cell sorting, screening, and sequencing; custom, immune, and naive phage display production and screening; transgenic animals and multi-species antibody discovery; bi-specific, tri-specific, VHH, and VNAR (shark) antibody manufacturing; DNA cloning, protein and antibody downstream processing; antibody characterization on label-free biosensors and antibody engineering; transient and stable cell line generation; antibody optimization and humanization; hybridoma production with multiplexed, high-throughput screening, and clone-picking; and cryopreservation.

ImmunoPrecise Antibodies Fundamentals Summary

How do ImmunoPrecise Antibodies's earnings and revenue compare to its market cap?
IPA fundamental statistics
Market CapCA$135.36m
Earnings (TTM)-CA$22.86m
Revenue (TTM)CA$19.47m

7.0x

P/S Ratio

-5.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IPA income statement (TTM)
RevenueCA$19.47m
Cost of RevenueCA$8.70m
Gross ProfitCA$10.76m
Other ExpensesCA$33.62m
Earnings-CA$22.86m

Last Reported Earnings

Jul 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.92
Gross Margin55.29%
Net Profit Margin-117.44%
Debt/Equity Ratio0%

How did IPA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is IPA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IPA?

Other financial metrics that can be useful for relative valuation.

IPA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue6x
Enterprise Value/EBITDA-5.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does IPA's PS Ratio compare to its peers?

IPA PS Ratio vs Peers
The above table shows the PS ratio for IPA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average5x
IOT Innovotech
5.7xn/aCA$7.0m
DOSE Rapid Dose Therapeutics
9.1xn/aCA$9.5m
GDNS Goodness Growth Holdings
2x63.8%CA$172.2m
RX BioSyent
3.4x6.4%CA$94.4m
IPA ImmunoPrecise Antibodies
7xn/aCA$135.4m

Price-To-Sales vs Peers: IPA is expensive based on its Price-To-Sales Ratio (7x) compared to the peer average (5x).


Price to Earnings Ratio vs Industry

How does IPA's PE Ratio compare vs other companies in the North American Life Sciences Industry?

Price-To-Sales vs Industry: IPA is expensive based on its Price-To-Sales Ratio (7x) compared to the North American Life Sciences industry average (4.2x)


Price to Sales Ratio vs Fair Ratio

What is IPA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IPA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate IPA's Price-To-Sales Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of IPA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate IPA's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate IPA's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is ImmunoPrecise Antibodies forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


14.4%

Forecasted Pharmaceuticals & Biotech industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as ImmunoPrecise Antibodies has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine ImmunoPrecise Antibodies's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • ImmunoPrecise Antibodies competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has ImmunoPrecise Antibodies performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-25.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IPA is currently unprofitable.

Growing Profit Margin: IPA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IPA is unprofitable, and losses have increased over the past 5 years at a rate of 25.6% per year.

Accelerating Growth: Unable to compare IPA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IPA is unprofitable, making it difficult to compare its past year earnings growth to the Life Sciences industry (15.3%).


Return on Equity

High ROE: IPA has a negative Return on Equity (-34.51%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is ImmunoPrecise Antibodies's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: IPA's short term assets (CA$27.1M) exceed its short term liabilities (CA$5.4M).

Long Term Liabilities: IPA's short term assets (CA$27.1M) exceed its long term liabilities (CA$8.3M).


Debt to Equity History and Analysis

Debt Level: IPA is debt free.

Reducing Debt: IPA had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: IPA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: IPA has less than a year of cash runway if free cash flow continues to reduce at historical rates of 36% each year


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Dividend

What is ImmunoPrecise Antibodies's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate IPA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate IPA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if IPA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IPA's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as IPA has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.2yrs

Average management tenure


CEO

Jennifer Bath

4.58yrs

Tenure

CA$2,306,522

Compensation

Dr. Jennifer Lynne Bath, Ph D, has been the Chief Executive Officer and President of ImmunoPrecise Antibodies Ltd. since February 21, 2018.Dr. Bath served as the Global Director of Client Relations at Ald...


CEO Compensation Analysis

Compensation vs Market: Jennifer's total compensation ($USD1.70M) is above average for companies of similar size in the Canadian market ($USD179.12K).

Compensation vs Earnings: Jennifer's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: IPA's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

Experienced Board: IPA's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: IPA insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

TSXV:IPA Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
15 Sep 22BuyCA$20,236Jennifer BathIndividual3,100CA$6.60
15 Sep 22BuyCA$26,276Brad McConnIndividual4,000CA$6.57
17 Aug 22BuyCA$8,045Jennifer BathIndividual1,100CA$7.53
17 Aug 22BuyCA$7,310Robert BurkeIndividual1,000CA$7.31
15 Aug 22BuyCA$34,670Gregory SmithIndividual5,000CA$6.93
15 Aug 22BuyCA$3,436Republique CapitalCompany500CA$6.92
15 Aug 22BuyCA$33,824Jennifer BathIndividual5,000CA$7.20
12 Aug 22BuyCA$13,762Republique CapitalCompany2,000CA$7.19
10 Aug 22BuyCA$22,711Republique CapitalCompany4,000CA$5.75
09 Aug 22BuyCA$6,019Jennifer BathIndividual1,100CA$5.61
05 Aug 22BuyCA$2,886Jennifer BathIndividual550CA$5.28
03 Aug 22BuyCA$12,115Jennifer BathIndividual2,290CA$5.78
01 Aug 22BuyCA$13,071Ilse RoodinkIndividual2,400CA$5.57
12 May 22BuyCA$29,117Republique CapitalCompany5,000CA$6.05
11 May 22BuyCA$287Jennifer BathIndividual50CA$5.73
09 May 22BuyCA$8,005Jennifer BathIndividual1,300CA$6.23
05 May 22BuyCA$2,658Jennifer BathIndividual373CA$7.24
29 Apr 22BuyCA$2,669Jennifer BathIndividual375CA$7.15
27 Apr 22BuyCA$1,791Jennifer BathIndividual250CA$7.17
22 Apr 22BuyCA$6,023Jennifer BathIndividual830CA$7.33
14 Apr 22BuyCA$36,250Republique CapitalCompany5,000CA$7.25
13 Apr 22BuyCA$8,553,850Ingrid BrandsIndividual1,565,865CA$5.46
13 Apr 22BuyCA$8,553,850Dirk Van HyfteIndividual1,565,865CA$5.46
12 Apr 22BuyCA$5,778Jennifer BathIndividual800CA$7.36
11 Apr 22BuyCA$8,043Jennifer BathIndividual1,100CA$7.40
11 Apr 22BuyCA$6,801Ilse RoodinkIndividual942CA$7.22
11 Apr 22BuyCA$72,244Republique CapitalCompany10,000CA$7.30
11 Apr 22BuyCA$2,230Jennifer BathIndividual300CA$7.43
07 Apr 22BuyCA$4,895Barry DuplantisIndividual700CA$7.00
06 Apr 22BuyCA$9,172Jennifer BathIndividual1,290CA$7.20
06 Apr 22BuyCA$74,958Carla DahlIndividual10,000CA$7.50
05 Apr 22BuyCA$22,470Gregory SmithIndividual3,000CA$7.49
04 Apr 22BuyCA$69,359Republique CapitalCompany9,900CA$7.07
01 Apr 22BuyCA$6,613Brad McConnIndividual1,000CA$6.62
01 Apr 22BuyCA$3,407Jennifer BathIndividual530CA$6.49
31 Mar 22BuyCA$18,689Brad McConnIndividual3,000CA$6.23
31 Mar 22BuyCA$3,132Jennifer BathIndividual500CA$6.42
30 Mar 22BuyCA$57,990Republique CapitalCompany10,000CA$6.20
30 Mar 22BuyCA$21,489Jennifer BathIndividual3,600CA$6.23
16 Feb 22BuyCA$20,391Jennifer BathIndividual3,150CA$6.47
11 Feb 22BuyCA$4,042Jennifer BathIndividual600CA$6.78
09 Feb 22BuyCA$10,246Jennifer BathIndividual1,500CA$6.84
09 Feb 22BuyCA$20,547Frederic ChabotIndividual3,000CA$6.85
11 Jan 22BuyCA$14,498Jennifer BathIndividual1,900CA$7.63
30 Dec 21BuyCA$14,811Jennifer BathIndividual2,100CA$7.07
29 Dec 21BuyCA$18,833Jennifer BathIndividual2,700CA$6.99

Ownership Breakdown

What is the ownership structure of IPA?
Owner TypeNumber of SharesOwnership Percentage
Private Companies60,3700.2%
Public Companies560,0002.3%
Institutions1,438,3735.8%
Individual Insiders3,396,87913.7%
General Public19,381,10178.0%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 28.4%.


Top Shareholders

Top 25 shareholders own 21.9% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
6.3%
Ingrid Brands
1,565,865CA$8.5m0%no data
6.3%
Dirk Van Hyfte
1,565,865CA$8.5m0%no data
3.78%
Ingalls & Snyder LLC
939,475CA$5.1m0.78%0.22%
2.25%
NameSilo Technologies Corp.
560,000CA$3.1m0%no data
0.78%
BMO Asset Management Corp.
194,164CA$1.1m38.24%no data
0.39%
Jennifer Bath
97,998CA$534.1k15.48%no data
0.29%
Maxam Capital Management Ltd.
71,100CA$387.5k0%0.57%
0.25%
Ikarian Capital, LLC
61,433CA$334.8k-20.88%0.1%
0.24%
Republique Capital
60,370CA$329.0k12.07%no data
0.2%
Citadel Advisors LLC
49,162CA$267.9k0%no data
0.19%
Canadian Imperial Bank of Commerce, Asset Management Arm
47,427CA$258.5k0%no data
0.16%
Gregory Smith
40,000CA$218.0k14.29%no data
0.12%
Robert Burke
31,000CA$169.0k3.33%no data
0.1%
James Kuo
25,000CA$136.3k0%no data
0.089%
Frederic Chabot
22,209CA$121.0k112.63%no data
0.081%
Gradient Capital Advisors, Llc
20,000CA$109.0k0%0.04%
0.07%
Geode Capital Management, LLC
17,484CA$95.3k0%no data
0.062%
Dimensional Fund Advisors LP
15,364CA$83.7k17.17%no data
0.056%
Brian Lundstrom
13,800CA$75.2k0%no data
0.04%
Carla Dahl
10,000CA$54.5k0%no data
0.035%
Elizabeth Grant
8,600CA$46.9k0%no data
0.032%
Brad McConn
8,000CA$43.6k100%no data
0.03%
National Bank Investments Inc.
7,540CA$41.1k0%no data
0.015%
Skandinaviska Enskilda Banken AB, Private Banking, Investment Banking, and Insurance Arm
3,750CA$20.4k0%no data
0.014%
UBS Asset Management
3,595CA$19.6k0%no data

Company Information

ImmunoPrecise Antibodies Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: ImmunoPrecise Antibodies Ltd.
  • Ticker: IPA
  • Exchange: TSXV
  • Founded: 1983
  • Industry: Life Sciences Tools and Services
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: CA$135.360m
  • Shares outstanding: 24.84m
  • Website: https://www.ipatherapeutics.com

Number of Employees


Location

  • ImmunoPrecise Antibodies Ltd.
  • 3204–4464 Markham Street
  • Victoria
  • British Columbia
  • V8Z 7X8
  • Canada


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IPATSXV (TSX Venture Exchange)YesCommon SharesCACADDec 2016
IPANasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDDec 2016
TQBDB (Deutsche Boerse AG)YesCommon SharesDEEURDec 2016

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/25 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/07/31
Annual Earnings2022/04/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.