Inovio Pharmaceuticals (NASDAQ:INO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Inovio’s progress with its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging. We are also positive on the company’s collaboration with big pharma companies like Regeneron, AstraZeneca, and the University of Pennsylvania, as it lends Inovio with their expertise. Moreover, the company’s targeted cervical cancer market holds untapped potential. On the flip side, as the company has no approved product in its portfolio, its excessive dependence on its partners for funding the development of its pipeline candidates is concerning. Moreover, due to early/mid-stage nature of its pipeline, the candidates are several steps away from entering the market. Shares of the company have underperformed the industry in the last one year.”
Several other research firms have also recently weighed in on INO. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Inovio Pharmaceuticals in a research report on Tuesday, September 12th. ValuEngine cut shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 9th. Royal Bank of Canada initiated coverage on shares of Inovio Pharmaceuticals in a research report on Wednesday, October 18th. They set an “outperform” rating and a $11.00 price objective on the stock. BidaskClub cut shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Finally, Maxim Group set a $12.00 price objective on shares of Inovio Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.16.
Inovio Pharmaceuticals (NASDAQ:INO) traded up $0.01 during midday trading on Tuesday, reaching $4.48. 740,946 shares of the company’s stock traded hands, compared to its average volume of 1,300,000. Inovio Pharmaceuticals has a 12-month low of $4.09 and a 12-month high of $9.86. The stock has a market cap of $404.53, a PE ratio of -3.80 and a beta of 2.74.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Inovio Pharmaceuticals had a negative return on equity of 72.19% and a negative net margin of 221.55%. The firm had revenue of $2.60 million for the quarter, compared to analysts’ expectations of $10.27 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. The company’s revenue for the quarter was down 79.2% on a year-over-year basis. research analysts expect that Inovio Pharmaceuticals will post -1.12 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of INO. Virginia Retirement Systems ET AL purchased a new position in shares of Inovio Pharmaceuticals during the 3rd quarter valued at $101,000. BlueCrest Capital Management Ltd purchased a new position in shares of Inovio Pharmaceuticals during the 2nd quarter valued at $107,000. Neuberger Berman Group LLC purchased a new position in shares of Inovio Pharmaceuticals during the 3rd quarter valued at $115,000. Engineers Gate Manager LP purchased a new position in shares of Inovio Pharmaceuticals during the 3rd quarter valued at $117,000. Finally, Emerald Advisers Inc. PA grew its holdings in shares of Inovio Pharmaceuticals by 84.0% during the 3rd quarter. Emerald Advisers Inc. PA now owns 20,323 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 9,280 shares in the last quarter. Institutional investors and hedge funds own 32.12% of the company’s stock.
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Inovio Pharmaceuticals Company Profile
Inovio Pharmaceuticals, Inc (Inovio) is a clinical-stage pharmaceutical company, which is involved in developing deoxyribonucleic acid (DNA) immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases. The Company’s DNA-based immunotherapies, in combination with its electroporation delivery devices, generates immune responses, in particular T cells, in the body to fight target diseases.
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