Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Receives $8.80 Average PT from Analysts

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $8.80.

INO has been the topic of several analyst reports. Piper Sandler initiated coverage on shares of Inovio Pharmaceuticals in a research report on Wednesday, July 9th. They set an “overweight” rating and a $5.00 price target on the stock. Wall Street Zen lowered shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. HC Wainwright reaffirmed a “neutral” rating and set a $3.00 price target on shares of Inovio Pharmaceuticals in a research report on Thursday, August 14th. Finally, Zacks Research lowered shares of Inovio Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd.

Inovio Pharmaceuticals Price Performance

Inovio Pharmaceuticals stock opened at $2.48 on Monday. The firm has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $1.90. The stock has a market cap of $131.79 million, a price-to-earnings ratio of -0.95 and a beta of 1.61. Inovio Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $6.04.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.02. Equities analysts expect that Inovio Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inovio Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Inovio Pharmaceuticals by 1,035.2% during the 4th quarter. Bank of America Corp DE now owns 640,987 shares of the biopharmaceutical company’s stock worth $1,173,000 after purchasing an additional 584,521 shares during the period. Northern Trust Corp boosted its position in shares of Inovio Pharmaceuticals by 6.4% during the 4th quarter. Northern Trust Corp now owns 219,057 shares of the biopharmaceutical company’s stock worth $401,000 after purchasing an additional 13,269 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Inovio Pharmaceuticals during the 2nd quarter worth approximately $234,000. Nuveen LLC purchased a new position in shares of Inovio Pharmaceuticals during the 1st quarter worth approximately $168,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Inovio Pharmaceuticals by 38.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 98,495 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 27,429 shares during the period. Hedge funds and other institutional investors own 26.79% of the company’s stock.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.