BidaskClub downgraded shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) from a hold rating to a sell rating in a research note issued to investors on Friday, July 28th.
Several other brokerages also recently weighed in on INO. Stifel Nicolaus reissued a buy rating and issued a $11.00 price target on shares of Inovio Pharmaceuticals in a report on Thursday, May 25th. Maxim Group set a $12.00 price target on Inovio Pharmaceuticals and gave the stock a buy rating in a report on Thursday, June 8th. HC Wainwright reissued a buy rating and issued a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Friday, June 9th. Aegis raised their price target on Inovio Pharmaceuticals from $11.00 to $14.00 and gave the stock a buy rating in a report on Thursday, May 25th. Finally, Zacks Investment Research raised Inovio Pharmaceuticals from a hold rating to a buy rating and set a $8.75 target price for the company in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $20.78.
Shares of Inovio Pharmaceuticals (INO) traded down 3.72% during trading on Friday, reaching $5.43. The company’s stock had a trading volume of 1,361,927 shares. Inovio Pharmaceuticals has a 12-month low of $5.32 and a 12-month high of $9.95. The stock’s market capitalization is $405.22 million. The firm’s 50-day moving average is $7.16 and its 200-day moving average is $6.84.
Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). The business had revenue of $10.40 million during the quarter, compared to the consensus estimate of $5.83 million. Inovio Pharmaceuticals had a negative return on equity of 65.97% and a negative net margin of 235.91%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. Equities analysts expect that Inovio Pharmaceuticals will post ($1.07) earnings per share for the current year.
In related news, Director David B. Weiner sold 8,000 shares of Inovio Pharmaceuticals stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $8.00, for a total transaction of $64,000.00. Following the completion of the transaction, the director now directly owns 740,956 shares in the company, valued at $5,927,648. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in INO. Vanguard Group Inc. boosted its position in shares of Inovio Pharmaceuticals by 7.9% in the first quarter. Vanguard Group Inc. now owns 3,098,055 shares of the biopharmaceutical company’s stock valued at $20,510,000 after buying an additional 226,861 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in shares of Inovio Pharmaceuticals during the second quarter valued at $1,411,000. Russell Investments Group Ltd. bought a new position in shares of Inovio Pharmaceuticals during the fourth quarter valued at $559,000. Credit Suisse AG boosted its position in shares of Inovio Pharmaceuticals by 108.6% in the first quarter. Credit Suisse AG now owns 132,688 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 69,068 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Inovio Pharmaceuticals by 12.5% in the first quarter. Geode Capital Management LLC now owns 560,164 shares of the biopharmaceutical company’s stock valued at $3,708,000 after buying an additional 62,045 shares in the last quarter. Institutional investors own 22.92% of the company’s stock.
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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