Inovio Pharmaceuticals (INO) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Inovio Pharmaceuticals (NYSE:INO) announced its earnings results on Monday. The company reported ($0.05) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.04) by $0.01, Stock Ratings Network reports. The company had revenue of $2.40 million for the quarter, compared to the consensus estimate of $1.41 million.
Shares of Inovio Pharmaceuticals (NYSE:INO) opened at 2.16 on Monday. Inovio Pharmaceuticals has a 52 week low of $0.60 and a 52 week high of $3.95. The stock’s 50-day moving average is $2.82 and its 200-day moving average is $2.6. The company’s market cap is $517.6 million. Inovio Pharmaceuticals also was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 28,933,124 shares, an increase of 0.4% from the April 15th total of 28,830,223 shares. Approximately 12.8% of the company’s shares are short sold. Based on an average daily volume of 4,291,893 shares, the days-to-cover ratio is currently 6.7 days.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Inovio Pharmaceuticals in a research note on Wednesday, May 7th. They set a “buy” rating and a $4.00 price target on the stock. On a related note, analysts at Zacks downgraded shares of Inovio Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Friday, April 18th. They now have a $3.20 price target on the stock. Finally, analysts at Zacks upgraded shares of Inovio Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Thursday, March 20th. They now have a $4.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Inovio Pharmaceuticals has an average rating of “Buy” and an average price target of $4.37.
Inovio Pharmaceuticals, Inc is engaged in the development of a new generation of vaccines, called synthetic vaccines, focused on cancers and infectious diseases.
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