Inovio Pharmaceuticals (NASDAQ:INO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, November 13th.
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 research firms have also issued reports on INO. HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Inovio Pharmaceuticals in a report on Tuesday, September 12th. BidaskClub upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 9th. ValuEngine lowered Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. Maxim Group set a $12.00 price objective on Inovio Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada began coverage on Inovio Pharmaceuticals in a research report on Wednesday, October 18th. They issued an “outperform” rating and a $11.00 target price on the stock. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Inovio Pharmaceuticals currently has an average rating of “Hold” and an average target price of $19.16.
Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.60 million during the quarter, compared to the consensus estimate of $10.27 million. During the same quarter last year, the firm earned ($0.28) earnings per share. The business’s revenue for the quarter was down 79.2% on a year-over-year basis. equities research analysts forecast that Inovio Pharmaceuticals will post -1.12 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC bought a new stake in Inovio Pharmaceuticals during the third quarter worth $150,000. Neuberger Berman Group LLC bought a new position in shares of Inovio Pharmaceuticals in the 3rd quarter valued at $115,000. Alyeska Investment Group L.P. bought a new position in shares of Inovio Pharmaceuticals in the 3rd quarter valued at $892,000. Allianz Asset Management GmbH lifted its stake in shares of Inovio Pharmaceuticals by 12.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 222,768 shares of the biopharmaceutical company’s stock valued at $1,412,000 after acquiring an additional 24,652 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of Inovio Pharmaceuticals in the 3rd quarter valued at $117,000. Hedge funds and other institutional investors own 32.29% of the company’s stock.
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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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