Innate PharmaIPHA 41 Beneish M-Score is 12.92 as of Jun. 24, 2026. GuruFocus rates IPHA with a GF Score™ of 41/100 and a GF Value™ of $0.16 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 831 Biotechnology companies, Innate Pharma ranks worse than 94.34% on this metric.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Warning Sign:
Beneish M-Score 12.92 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Innate Pharma's Beneish M-Score or its related term are showing as below:
IPHA'
s Beneish M-Score Range Over the Past 10 Years
Min: -6.2 Med: -0.7 Max: 12.92
Current: 12.92
During the past 13 years, the highest Beneish M-Score of Innate Pharma was 12.92. The lowest was -6.20. And the median was -0.70.
Innate Pharma Beneish M-Score Related Terms
Innate Pharma Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Innate Pharma's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
IPHA vs VRTX, REGN, ALNY: Beneish M-Score Comparison
For the Biotechnology subindustry, Innate Pharma's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Innate Pharma Beneish M-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Innate Pharma's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Innate Pharma's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Innate Pharma for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 20.9837
+
0.528 * 1
+
0.404 * 1.0222
+
0.892 * 0.2469
+
0.115 * 0.5192
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 4.1747
+
4.679 * -0.318678
-
0.327 * 1.6154
=
12.95
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(2.088 / (2.088 + 5.375))
/
(5.961 / (5.961 + 5.101))
=
0.27978
/
0.538872
=
0.5192
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(-57.584 - 3.945
-
-38.125)
/
73.441
=
-0.318678
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Innate Pharma has a M-score of 12.95 signals that the company is likely to be a manipulator.
Innate Pharma (IPHA) has a Beneish M-Score of 12.92 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Innate Pharma and its competitors. According to the industry distribution chart, Innate Pharma ranks #784 out of 831 companies in the Biotechnology industry, placing it in the top 94.3%.
Is Innate Pharma's Beneish M-Score too high?
Innate Pharma's current Beneish M-Score is 12.92. Based on the distribution chart, Innate Pharma ranks #784 out of 831 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Innate Pharma has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Innate Pharma's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Innate Pharma ranks #784 out of 831 companies for Beneish M-Score. This places Innate Pharma in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Biotechnology company?
A good Beneish M-Score depends on the Biotechnology industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Innate Pharma and its competitors. Innate Pharma's current Beneish M-Score is 12.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Innate Pharma stock overvalued right now?
Based on GuruFocus' analysis, Innate Pharma (IPHA) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.16, compared to a current price of $1.90 — trading 1087.5% above its estimated fair value. The current Beneish M-Score is 12.92. Innate Pharma's overall GF Score™ is 41/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Innate Pharma (IPHA), the current Beneish M-Score is 12.92 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Innate Pharma (IPHA) Overvalued in 2026?
Based on GuruFocus' analysis, Innate Pharma stock appears to be overvalued.
The current stock price of $1.90 is trading 1087.5% above its estimated GF Value™ of $0.16.
GuruFocus considers Innate Pharma to be Significantly Overvalued.
Key valuation signals for IPHA:
Beneish M-Score: 12.92
GF Value™: $0.16 vs. price of $1.90 (1087.5% above fair value)
No single metric tells the full story. See the IPHA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Innate Pharma SA is a clinical-stage biotechnology company. It is engaged in developing immunotherapies for cancer patients. The company's approach includes therapeutic modalities such as monoclonal antibodies, multispecific NK cell engagers through its ANKET platform, and antibody-drug conjugates (ADC). Its portfolio includes lacutamab, which is being studied for cutaneous T-cell lymphomas and peripheral T-cell lymphomas, and monalizumab, which is being developed in collaboration with AstraZeneca for non-small cell lung cancer. The company's revenue mainly consists of revenues from collaboration and licensing agreements and government financing for research expenditure in the form of research tax credits, as well as other grants.
41GF Score
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