Inovio Pharmaceuticals (INO) Issues Quarterly Earnings Results

Inovio Pharmaceuticals (NASDAQ:INO) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05, RTT News reports. Inovio Pharmaceuticals had a negative net margin of 252.95% and a negative return on equity of 71.53%. The business had revenue of $2.00 million during the quarter, compared to analyst estimates of $2.20 million. During the same period in the prior year, the business posted ($0.39) earnings per share.

Shares of NASDAQ:INO traded up $0.10 during midday trading on Friday, hitting $5.29. 1,937,670 shares of the stock traded hands, compared to its average volume of 902,559. The company has a market cap of $478.53 million, a price-to-earnings ratio of -4.85 and a beta of 1.88. Inovio Pharmaceuticals has a one year low of $3.64 and a one year high of $6.30.

In other news, CEO Jong Joseph Kim sold 49,060 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $5.37, for a total transaction of $263,452.20. Following the completion of the transaction, the chief executive officer now directly owns 2,357,554 shares of the company’s stock, valued at $12,660,064.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Inovio Pharmaceuticals by 1.7% during the third quarter. BlackRock Inc. now owns 6,959,341 shares of the biopharmaceutical company’s stock valued at $38,696,000 after acquiring an additional 114,003 shares during the last quarter. Wasatch Advisors Inc. raised its stake in shares of Inovio Pharmaceuticals by 74.1% during the third quarter. Wasatch Advisors Inc. now owns 4,767,879 shares of the biopharmaceutical company’s stock valued at $26,509,000 after acquiring an additional 2,029,689 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Inovio Pharmaceuticals by 60.5% during the third quarter. ARK Investment Management LLC now owns 1,917,071 shares of the biopharmaceutical company’s stock valued at $10,659,000 after acquiring an additional 722,414 shares during the last quarter. Northern Trust Corp raised its stake in shares of Inovio Pharmaceuticals by 3.4% during the second quarter. Northern Trust Corp now owns 1,026,797 shares of the biopharmaceutical company’s stock valued at $4,026,000 after acquiring an additional 33,555 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new position in shares of Inovio Pharmaceuticals during the first quarter valued at about $2,375,000. 31.71% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on INO. ValuEngine upgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday. BidaskClub lowered shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Finally, HC Wainwright set a $13.00 price target on shares of Inovio Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Inovio Pharmaceuticals currently has an average rating of “Buy” and an average target price of $10.75.

COPYRIGHT VIOLATION WARNING: “Inovio Pharmaceuticals (INO) Issues Quarterly Earnings Results” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/11/10/inovio-pharmaceuticals-ino-issues-quarterly-earnings-results.html.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops active DNA immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.

Featured Article: Diversification For Individual Investors

Earnings History for Inovio Pharmaceuticals (NASDAQ:INO)

Receive News & Ratings for Inovio Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovio Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply