Inovio Pharmaceuticals (NASDAQ:INO) Price Target Cut to $8.00 by Analysts at Royal Bank of Canada

Inovio Pharmaceuticals (NASDAQ:INO) had its price objective decreased by equities researchers at Royal Bank of Canada from $11.00 to $8.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target points to a potential downside of 1.84% from the stock’s current price.

A number of other brokerages have also weighed in on INO. HC Wainwright restated a “neutral” rating and set a $15.00 price objective on shares of Inovio Pharmaceuticals in a research report on Monday, July 15th. Stephens assumed coverage on Inovio Pharmaceuticals in a report on Tuesday, May 14th. They set an “overweight” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.00.

Inovio Pharmaceuticals Stock Performance

INO traded down $0.56 during trading hours on Friday, reaching $8.15. The company’s stock had a trading volume of 368,793 shares, compared to its average volume of 443,197. The company’s 50-day moving average is $9.52 and its 200-day moving average is $11.98. Inovio Pharmaceuticals has a 52 week low of $3.89 and a 52 week high of $14.75. The firm has a market cap of $211.17 million, a PE ratio of -2.54 and a beta of 0.89.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.04). The company had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million. Inovio Pharmaceuticals had a negative net margin of 16,238.91% and a negative return on equity of 88.13%. During the same period in the previous year, the company earned ($1.56) earnings per share. Equities analysts anticipate that Inovio Pharmaceuticals will post -4.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inovio Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC raised its stake in Inovio Pharmaceuticals by 5.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 115,361 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 6,148 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Inovio Pharmaceuticals during the 2nd quarter worth about $88,000. American Century Companies Inc. raised its position in shares of Inovio Pharmaceuticals by 62.2% in the 2nd quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock worth $255,000 after acquiring an additional 12,100 shares in the last quarter. Keystone Financial Group lifted its stake in shares of Inovio Pharmaceuticals by 11.7% in the 4th quarter. Keystone Financial Group now owns 122,737 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 12,840 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Inovio Pharmaceuticals during the 2nd quarter valued at about $184,000. 26.79% of the stock is currently owned by institutional investors.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.