Inovio Pharmaceuticals, Inc. (NASDAQ:INO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $8.75 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.18% from the company’s current price.

According to Zacks, “Inovio is a development-stage biopharmaceutical company is focused on the development of treatments targeting various forms of cancer and infectious diseases. We are pleased with the company’s collaborations with other firms for pipeline development. Shares of Inovio have outperformed the Medical-Biomedical/Genetics industry so far this year. However, Inovio suffered a setback with the FDA placing clinical hold on the proposed phase III program on its lead pipeline candidate, VGX-3100 in Oct 2016. Though in Apr 2017, Inovio submitted a complete response to the FDA for the initiation of the study, FDA decision is still pending. Estimates have been going up lately ahead of the company’s Q2 earnings release. The company has negative record of earnings surprises in recent quarters.”

INO has been the subject of a number of other research reports. Maxim Group raised their price objective on Inovio Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 24th. ValuEngine upgraded Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Stifel Nicolaus restated a “buy” rating and set a $11.00 price objective on shares of Inovio Pharmaceuticals in a research note on Tuesday, April 25th. Piper Jaffray Companies lowered Inovio Pharmaceuticals from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $9.00 in a research note on Thursday, March 16th. Finally, Nomura restated a “buy” rating and set a $40.00 price objective on shares of Inovio Pharmaceuticals in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.90.

Inovio Pharmaceuticals (INO) traded up 1.04% during midday trading on Tuesday, reaching $7.80. The company had a trading volume of 486,769 shares. The firm’s market capitalization is $582.09 million. Inovio Pharmaceuticals has a 12 month low of $5.83 and a 12 month high of $11.00. The firm’s 50-day moving average price is $7.75 and its 200 day moving average price is $6.89.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.31). Inovio Pharmaceuticals had a negative return on equity of 65.97% and a negative net margin of 235.91%. The firm had revenue of $10.40 million during the quarter, compared to analyst estimates of $5.83 million. During the same quarter last year, the firm earned ($0.11) EPS. Inovio Pharmaceuticals’s quarterly revenue was up 28.4% on a year-over-year basis. Equities analysts anticipate that Inovio Pharmaceuticals will post ($1.10) earnings per share for the current fiscal year.

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In related news, Director David B. Weiner sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $8.00, for a total value of $64,000.00. Following the sale, the director now owns 740,956 shares of the company’s stock, valued at approximately $5,927,648. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in INO. Bank of America Corp DE increased its stake in shares of Inovio Pharmaceuticals by 14.6% in the first quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 3,605 shares during the period. American International Group Inc. increased its stake in shares of Inovio Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 40,856 shares of the biopharmaceutical company’s stock valued at $270,000 after buying an additional 2,695 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Inovio Pharmaceuticals by 8.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 51,573 shares of the biopharmaceutical company’s stock valued at $341,000 after buying an additional 4,020 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Inovio Pharmaceuticals during the fourth quarter valued at about $559,000. Finally, Vident Investment Advisory LLC increased its stake in shares of Inovio Pharmaceuticals by 67.5% in the fourth quarter. Vident Investment Advisory LLC now owns 106,147 shares of the biopharmaceutical company’s stock valued at $737,000 after buying an additional 42,764 shares during the period. 27.73% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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