Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Given Average Recommendation of “Buy” by Brokerages
Inovio Pharmaceuticals, Inc. (NASDAQ:INO) has received an average recommendation of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.78.
INO has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, April 17th. Stifel Nicolaus reissued a “buy” rating and set a $11.00 price objective on shares of Inovio Pharmaceuticals in a report on Tuesday, April 25th. BNP Paribas reissued a “neutral” rating and set a $39.00 price objective on shares of Inovio Pharmaceuticals in a report on Monday, May 1st. Jefferies Group LLC restated a “neutral” rating and set a $38.00 target price on shares of Inovio Pharmaceuticals in a research report on Monday, May 1st. Finally, Nomura restated a “buy” rating and set a $40.00 target price on shares of Inovio Pharmaceuticals in a research report on Monday, May 1st.
Inovio Pharmaceuticals (NASDAQ:INO) traded up 2.74% during trading on Friday, hitting $5.63. The stock had a trading volume of 853,827 shares. The stock’s market cap is $420.15 million. Inovio Pharmaceuticals has a 12 month low of $5.34 and a 12 month high of $9.95. The firm has a 50 day moving average of $7.37 and a 200-day moving average of $6.87.
Inovio Pharmaceuticals (NASDAQ:INO) last announced 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). The firm had revenue of $10.40 million for the quarter, compared to analyst estimates of $5.83 million. Inovio Pharmaceuticals had a negative net margin of 235.91% and a negative return on equity of 65.97%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. Equities analysts predict that Inovio Pharmaceuticals will post ($1.09) earnings per share for the current year.
In related news, Director David B. Weiner sold 8,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $8.00, for a total transaction of $64,000.00. Following the completion of the transaction, the director now directly owns 740,956 shares in the company, valued at $5,927,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position 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 worth $188,000 after buying an additional 3,605 shares during the period. American International Group Inc. increased its position 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 worth $270,000 after buying an additional 2,695 shares during the period. Private Capital Advisors Inc. purchased a new position in shares of Inovio Pharmaceuticals during the second quarter worth $274,000. Metropolitan Life Insurance Co. NY increased its position 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 worth $341,000 after buying an additional 4,020 shares during the period. Finally, State of Wisconsin Investment Board purchased a new position in shares of Inovio Pharmaceuticals during the second quarter worth $392,000. Institutional investors and hedge funds own 22.90% of the company’s stock.
About Inovio Pharmaceuticals
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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