Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Coverage Initiated by Analysts at Citigroup Inc.

Citigroup Inc. initiated coverage on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a research report report published on Friday, October 6th. The firm issued a buy rating and a $10.00 price objective on the biopharmaceutical company’s stock.

INO has been the subject of a number of other reports. HC Wainwright set a $13.00 price target on Inovio Pharmaceuticals and gave the stock a buy rating in a research note on Friday, July 7th. ValuEngine raised Inovio Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, August 11th. Aegis reissued a buy rating and set a $14.00 price objective on shares of Inovio Pharmaceuticals in a report on Tuesday, July 18th. Maxim Group reissued a buy rating and set a $12.00 price objective on shares of Inovio Pharmaceuticals in a report on Tuesday, September 12th. Finally, BidaskClub downgraded Inovio Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $19.16.

Shares of Inovio Pharmaceuticals (NASDAQ:INO) opened at 6.24 on Friday. The stock has a 50 day moving average of $6.18 and a 200-day moving average of $6.65. Inovio Pharmaceuticals has a 12 month low of $5.28 and a 12 month high of $9.86. The firm’s market capitalization is $563.02 million.

Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.08. Inovio Pharmaceuticals had a negative return on equity of 63.67% and a negative net margin of 153.46%. The firm had revenue of $20.41 million during the quarter, compared to analyst estimates of $16.29 million. During the same period last year, the company posted ($0.26) EPS. The business’s quarterly revenue was up 229.2% compared to the same quarter last year. On average, equities research analysts anticipate that Inovio Pharmaceuticals will post ($0.92) EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. BlueCrest Capital Management Ltd acquired a new position in shares of Inovio Pharmaceuticals during the second quarter worth about $107,000. PNC Financial Services Group Inc. boosted its position 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 valued at $164,000 after purchasing an additional 1,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Inovio Pharmaceuticals during the second quarter valued at approximately $171,000. OxFORD Asset Management LLP acquired a new position in Inovio Pharmaceuticals during the second quarter valued at approximately $194,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Inovio Pharmaceuticals during the second quarter valued at approximately $197,000. 24.83% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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