Inovio Pharmaceuticals Inc. (INO) Upgraded to “Hold” at Zacks Investment Research
Inovio Pharmaceuticals Inc. (NASDAQ:INO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Inovio got a boost with the initiation of the second study on its preventive Zika vaccine, GLS-5700, in Puerto Rico. The first study on the Zika vaccine is already underway in the U.S. and Canada. Meanwhile, we are positive on the company’s progress with its lead cancer candidate, VGX-3100, which is expected to move into a late-stage study later this year. Further, we are pleased with the company’s collaborations with other companies and institutes for pipeline development. The loss estimates have gone down lately ahead of the company’s Q3 earnings release. The company has a mixed record of earnings surprises in recent quarters. However, Inovio depends largely on government grants and contracts for the development of its candidates. Inability to secure sufficient funding could hinder pipeline progress. Termination of the agreement with Roche for INO-1800 is also concerning.”
Several other analysts have also commented on INO. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 target price on shares of Inovio Pharmaceuticals in a report on Sunday, July 17th. Maxim Group lowered Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $31.00 price objective on shares of Inovio Pharmaceuticals in a report on Monday, August 8th. HC Wainwright assumed coverage on Inovio Pharmaceuticals in a report on Monday, August 29th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, Vetr lowered Inovio Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $11.11 price objective on the stock. in a report on Monday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $16.39.
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Inovio Pharmaceuticals (NASDAQ:INO) traded down 0.60% on Wednesday, hitting $8.22. The stock had a trading volume of 240,799 shares. Inovio Pharmaceuticals has a 12 month low of $4.50 and a 12 month high of $11.69. The company’s 50 day moving average is $9.20 and its 200-day moving average is $9.61. The stock’s market cap is $604.56 million.
Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.05. Inovio Pharmaceuticals had a negative net margin of 88.19% and a negative return on equity of 22.29%. The business earned $6.20 million during the quarter, compared to analysts’ expectations of $4.95 million. During the same quarter last year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts forecast that Inovio Pharmaceuticals will post ($0.93) EPS for the current year.
In other news, COO Niranjan Sardesai sold 21,800 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $9.30, for a total value of $202,740.00. Following the transaction, the chief operating officer now owns 70,234 shares in the company, valued at $653,176.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in INO. Highbridge Capital Management LLC purchased a new position in Inovio Pharmaceuticals during the second quarter valued at $113,000. Parametric Portfolio Associates LLC purchased a new position in Inovio Pharmaceuticals during the second quarter valued at $599,000. KCG Holdings Inc. increased its position in Inovio Pharmaceuticals by 771.0% in the second quarter. KCG Holdings Inc. now owns 119,158 shares of the biopharmaceutical company’s stock valued at $1,101,000 after buying an additional 105,477 shares during the period. Clinton Group Inc. purchased a new position in Inovio Pharmaceuticals during the second quarter valued at $330,000. Finally, Allianz Asset Management AG purchased a new position in Inovio Pharmaceuticals during the second quarter valued at $1,261,000. Institutional investors and hedge funds own 28.59% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a bio-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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