Inovio Pharmaceuticals, Inc. (INO) Expected to Post Quarterly Sales of $14.04 Million
Equities research analysts expect Inovio Pharmaceuticals, Inc. (NASDAQ:INO) to report $14.04 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Inovio Pharmaceuticals’ earnings. The lowest sales estimate is $7.20 million and the highest is $20.87 million. Inovio Pharmaceuticals posted sales of $12.54 million during the same quarter last year, which would indicate a positive year over year growth rate of 12%. The business is expected to announce its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Inovio Pharmaceuticals will report full year sales of $14.04 million for the current year, with estimates ranging from $41.80 million to $72.61 million. For the next fiscal year, analysts expect that the firm will post sales of $32.52 million per share, with estimates ranging from $28.80 million to $36.23 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Inovio Pharmaceuticals.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. The business had revenue of $20.41 million for the quarter, compared to the consensus estimate of $16.29 million. Inovio Pharmaceuticals had a negative net margin of 153.46% and a negative return on equity of 63.67%. Inovio Pharmaceuticals’s revenue for the quarter was up 229.2% on a year-over-year basis. During the same period last year, the company posted ($0.26) EPS.
Several analysts have issued reports on INO shares. Stifel Nicolaus reissued a “buy” rating and set a $11.00 price target on shares of Inovio Pharmaceuticals in a report on Tuesday, April 25th. BNP Paribas reissued a “neutral” rating and set a $39.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, May 1st. Jefferies Group LLC reissued a “neutral” rating and set a $38.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, May 1st. Nomura reissued a “buy” rating and set a $40.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, May 1st. Finally, Maxim Group reissued a “buy” rating on shares of Inovio Pharmaceuticals in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $20.78.
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In other news, Director David B. Weiner sold 8,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $8.00, for a total value of $64,000.00. Following the completion of the transaction, the director now owns 740,956 shares of the company’s stock, valued at $5,927,648. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. raised its position in Inovio Pharmaceuticals by 43.6% in the second quarter. Wasatch Advisors Inc. now owns 2,610,818 shares of the biopharmaceutical company’s stock worth $20,469,000 after buying an additional 793,306 shares during the period. Vanguard Group Inc. raised its position in Inovio Pharmaceuticals by 7.9% in the first quarter. Vanguard Group Inc. now owns 3,098,055 shares of the biopharmaceutical company’s stock worth $20,510,000 after buying an additional 226,861 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in Inovio Pharmaceuticals during the second quarter worth $1,411,000. GSA Capital Partners LLP acquired a new position in Inovio Pharmaceuticals during the second quarter worth $1,035,000. Finally, Virtu KCG Holdings LLC acquired a new position in Inovio Pharmaceuticals during the second quarter worth $556,000. 22.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) traded up 1.68% during mid-day trading on Friday, hitting $5.45. 838,819 shares of the company were exchanged. The firm has a 50 day moving average of $6.43 and a 200 day moving average of $6.78. Inovio Pharmaceuticals has a 12-month low of $5.28 and a 12-month high of $9.86. The company’s market capitalization is $491.74 million.
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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