Inovio Pharmaceuticals, Inc. (INO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) from a hold rating to a sell rating in a research report report published on Monday morning.

According to Zacks, “Inovio reported wider-than-expected loss in the third quarter of 2017 with revenue missing estimates. As the company has no approved product in its portfolio, its excessive dependence on its partners for funding the development of its pipeline candidates is concerning. Moreover, due to early/mid-stage nature of its pipeline, the candidates are several steps away from entering the market. Meanwhile highly lucrative immuno-oncology market has been the focus area of several big pharma giants which may pose intense competition to the candidates once approved. Shares of the company have underperformed the industry so far this year. However, we are positive on the company’s collaboration with big pharma companies like Regeneron, AstraZeneca, and the University of Pennsylvania, as it lends Inovio with their expertise. Moreover, the company’s progress with its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging.”

Several other equities research analysts have also commented on the company. Citigroup Inc. initiated coverage on Inovio Pharmaceuticals in a research note on Wednesday, September 6th. They set a buy rating and a $10.00 price target for the company. HC Wainwright set a $13.00 price target on Inovio Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, July 27th. BidaskClub lowered Inovio Pharmaceuticals from a sell rating to a strong sell rating in a research note on Friday, October 27th. Aegis reaffirmed a buy rating and issued a $14.00 target price on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. Finally, Maxim Group reaffirmed a buy rating and issued a $12.00 target price on shares of Inovio Pharmaceuticals in a research report on Tuesday, September 12th. Three analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $19.16.

Inovio Pharmaceuticals (NASDAQ INO) traded up $0.14 during trading on Monday, reaching $4.78. The company had a trading volume of 589,253 shares, compared to its average volume of 1,281,335. Inovio Pharmaceuticals has a 52-week low of $4.20 and a 52-week high of $9.86.

Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.15). The business had revenue of $2.60 million during the quarter, compared to analyst estimates of $10.27 million. Inovio Pharmaceuticals had a negative net margin of 221.55% and a negative return on equity of 72.19%. The business’s revenue for the quarter was down 79.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.28) earnings per share. equities analysts predict that Inovio Pharmaceuticals will post -1.12 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of INO. Virginia Retirement Systems ET AL purchased a new position in Inovio Pharmaceuticals in the third quarter valued at about $101,000. BlueCrest Capital Management Ltd purchased a new position in Inovio Pharmaceuticals in the second quarter valued at about $107,000. Neuberger Berman Group LLC purchased a new position in Inovio Pharmaceuticals in the third quarter valued at about $115,000. Engineers Gate Manager LP purchased a new position in Inovio Pharmaceuticals in the third quarter valued at about $117,000. Finally, Emerald Advisers Inc. PA boosted its holdings in Inovio Pharmaceuticals by 84.0% in the third quarter. Emerald Advisers Inc. PA now owns 20,323 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 9,280 shares during the last quarter. 24.98% of the stock is owned by hedge funds and other 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.

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