Zacks: Brokerages Expect Inovio Pharmaceuticals, Inc. (INO) Will Announce Quarterly Sales of $7.75 Million
Wall Street analysts forecast that Inovio Pharmaceuticals, Inc. (NASDAQ:INO) will report sales of $7.75 million for the current quarter, Zacks reports. Two analysts have made estimates for Inovio Pharmaceuticals’ earnings, with estimates ranging from $2.50 million to $12.99 million. Inovio Pharmaceuticals posted sales of $8.51 million during the same quarter last year, which would indicate a negative year over year growth rate of 8.9%. The company is scheduled to issue its next earnings report on Wednesday, March 21st.
According to Zacks, analysts expect that Inovio Pharmaceuticals will report full-year sales of $7.75 million for the current year, with estimates ranging from $35.90 million to $46.42 million. For the next fiscal year, analysts forecast that the firm will report sales of $17.76 million per share, with estimates ranging from $10.00 million to $22.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Inovio Pharmaceuticals.
Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Inovio Pharmaceuticals had a negative net margin of 221.55% and a negative return on equity of 72.19%. The company had revenue of $2.60 million for the quarter, compared to analysts’ expectations of $10.27 million. During the same period in the previous year, the firm earned ($0.28) earnings per share. The firm’s revenue for the quarter was down 79.2% on a year-over-year basis.
Shares of Inovio Pharmaceuticals (INO) opened at $4.50 on Friday. Inovio Pharmaceuticals has a twelve month low of $4.20 and a twelve month high of $9.86.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL purchased a new stake in shares of Inovio Pharmaceuticals in the third quarter worth $101,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Inovio Pharmaceuticals in the second quarter worth $107,000. Neuberger Berman Group LLC purchased a new stake in shares of Inovio Pharmaceuticals in the third quarter worth $115,000. Engineers Gate Manager LP purchased a new stake in shares of Inovio Pharmaceuticals in the third quarter worth $117,000. Finally, Emerald Advisers Inc. PA increased its stake in shares of Inovio Pharmaceuticals by 84.0% in the third quarter. Emerald Advisers Inc. PA now owns 20,323 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 9,280 shares in the last quarter. 32.27% of the stock is owned by hedge funds and other institutional investors.
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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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