IP Group (LON:IPO) Hits New 52-Week High – Here’s What Happened

IP Group Plc (LON:IPO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 67.50 and last traded at GBX 64.60, with a volume of 68457773 shares changing hands. The stock had previously closed at GBX 62.80.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IPO. Deutsche Bank Aktiengesellschaft lifted their target price on shares of IP Group from GBX 103 to GBX 110 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Berenberg Bank reiterated a “buy” rating and issued a GBX 100 target price on shares of IP Group in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 105.

IP Group Stock Up 2.9%

The company has a debt-to-equity ratio of 12.28, a quick ratio of 8.59 and a current ratio of 0.16. The firm’s 50-day moving average is GBX 57.45 and its two-hundred day moving average is GBX 58.32. The stock has a market cap of £570.69 million, a P/E ratio of 9.10 and a beta of 1.26.

IP Group (LON:IPO) last posted its quarterly earnings data on Tuesday, March 17th. The company reported GBX 7.24 earnings per share for the quarter. IP Group had a net margin of 3,526.32% and a return on equity of 7.16%. On average, equities research analysts anticipate that IP Group Plc will post 19.6245031 earnings per share for the current year.

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK’s largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach.