IP Group (LON:IPO)‘s stock had its “buy” rating reissued by investment analysts at Numis Securities in a report issued on Tuesday, May 29th. They currently have a GBX 180 ($2.40) price target on the stock. Numis Securities’ target price points to a potential upside of 33.14% from the company’s previous close.
Separately, Jefferies Financial Group restated a “buy” rating on shares of IP Group in a report on Friday, April 6th.
IPO traded down GBX 4.80 ($0.06) on Tuesday, hitting GBX 135.20 ($1.80). 1,023,468 shares of the company traded hands, compared to its average volume of 831,682. IP Group has a 12-month low of GBX 102.40 ($1.36) and a 12-month high of GBX 168.40 ($2.24).
In other IP Group news, insider David Begg bought 8,000 shares of the stock in a transaction dated Tuesday, May 8th. The stock was bought at an average cost of GBX 137 ($1.82) per share, for a total transaction of £10,960 ($14,591.93). Also, insider Alan John Aubrey bought 81,000 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were acquired at an average price of GBX 121 ($1.61) per share, with a total value of £98,010 ($130,488.62).
IP Group Company Profile
IP Group Plc is a private equity and venture capital firm specializing in seed, early stage, start-up, incubation, and mature financing. The firm also provides seed capital financing to spin out companies from the universities. It seeks to invest in the life sciences, physical sciences, energy & renewables, medical equipment and supplies, healthcare, technology, cleantech, intellectual property, pharmaceuticals & biotechnology, information technology & communications, and chemicals & materials.
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