Zacks: Brokerages Expect Inovio Pharmaceuticals, Inc. (INO) Will Announce Quarterly Sales of $14.04 Million
Analysts expect Inovio Pharmaceuticals, Inc. (NASDAQ:INO) to announce sales of $14.04 million for the current quarter, according to Zacks. Two analysts have made estimates for Inovio Pharmaceuticals’ earnings, with the highest sales estimate coming in at $20.87 million and the lowest estimate coming in at $7.20 million. Inovio Pharmaceuticals posted sales of $12.54 million during the same quarter last year, which suggests a positive year over year growth rate of 12%. The business is scheduled to issue its next quarterly 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 financial year, with estimates ranging from $41.80 million to $72.61 million. For the next fiscal year, analysts anticipate that the company will post sales of $32.52 million per share, with estimates ranging from $28.80 million to $36.23 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Inovio Pharmaceuticals.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.08. The business had revenue of $20.41 million for the quarter, compared to analysts’ expectations of $16.29 million. Inovio Pharmaceuticals had a negative net margin of 153.46% and a negative return on equity of 63.67%. The business’s quarterly revenue was up 229.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.26) EPS.
INO has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Inovio Pharmaceuticals in a research report on Friday. BidaskClub lowered shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Maxim Group restated a “buy” rating and set a $12.00 price target on shares of Inovio Pharmaceuticals in a research report on Tuesday, September 12th. Citigroup Inc. initiated coverage on shares of Inovio Pharmaceuticals in a research report on Wednesday, September 6th. They set a “buy” rating and a $10.00 price target on the stock. Finally, ValuEngine upgraded shares of Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.80.
Hedge funds have recently modified their holdings of the business. BlueCrest Capital Management Ltd purchased a new position in Inovio Pharmaceuticals during the second quarter worth about $107,000. PNC Financial Services Group Inc. raised its stake in Inovio Pharmaceuticals by 5.0% during the second quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock worth $164,000 after purchasing an additional 1,000 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Inovio Pharmaceuticals during the second quarter worth about $171,000. Bank of America Corp DE raised its stake in Inovio Pharmaceuticals by 14.6% during the first quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 3,605 shares during the period. Finally, OxFORD Asset Management LLP purchased a new position in Inovio Pharmaceuticals during the second quarter worth about $194,000. 24.83% of the stock is currently owned by institutional investors.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) opened at 6.15 on Monday. The firm has a 50-day moving average of $5.73 and a 200 day moving average of $6.65. The stock’s market cap is $554.90 million. Inovio Pharmaceuticals has a 52 week low of $5.28 and a 52 week high of $9.86.
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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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