Inovio Pharmaceuticals, Inc. (INO) Earns Buy Rating from Analysts at Citigroup Inc.
Research analysts at Citigroup Inc. began coverage on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a report released on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $10.00 price target on the biopharmaceutical company’s stock. Citigroup Inc.’s target price indicates a potential upside of 65.29% from the stock’s current price.
INO has been the subject of a number of other research reports. Aegis restated a “buy” rating and issued a $14.00 price objective on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. ValuEngine upgraded shares of Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Maxim Group upped their price objective on shares of Inovio Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 24th. HC Wainwright set a $13.00 price objective on shares of Inovio Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, July 7th. Finally, Zacks Investment Research upgraded shares of Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Inovio Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $19.80.
Shares of Inovio Pharmaceuticals (INO) traded down 0.49% on Wednesday, hitting $6.05. The stock had a trading volume of 929,728 shares. The firm has a 50 day moving average price of $5.69 and a 200 day moving average price of $6.70. Inovio Pharmaceuticals has a one year low of $5.28 and a one year high of $9.86. The company’s market capitalization is $545.87 million.
Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.08. Inovio Pharmaceuticals had a negative net margin of 153.46% and a negative return on equity of 63.67%. The business had revenue of $20.41 million during the quarter, compared to analysts’ expectations of $16.29 million. During the same quarter in the prior year, the company earned ($0.26) EPS. The firm’s quarterly revenue was up 229.2% on a year-over-year basis. On average, equities research analysts predict that Inovio Pharmaceuticals will post ($0.92) earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in INO. Wasatch Advisors Inc. increased its holdings in Inovio Pharmaceuticals by 43.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,610,818 shares of the biopharmaceutical company’s stock worth $20,469,000 after purchasing an additional 793,306 shares in the last quarter. Vanguard Group Inc. increased its holdings in Inovio Pharmaceuticals by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 3,098,055 shares of the biopharmaceutical company’s stock worth $20,510,000 after purchasing an additional 226,861 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in Inovio Pharmaceuticals during the 2nd quarter worth about $1,411,000. GSA Capital Partners LLP bought a new position in Inovio Pharmaceuticals during the 2nd quarter worth about $1,035,000. Finally, Virtu KCG Holdings LLC bought a new position in Inovio Pharmaceuticals during the 2nd quarter worth about $556,000. Hedge funds and other institutional investors own 24.83% of the company’s stock.
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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