Inovio Pharmaceuticals (NASDAQ:INO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, January 9th.
According to Zacks, “Inovio’s progress with its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging. We are also 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 targeted cervical cancer market holds untapped potential. On the flip side, 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. Shares of the company have underperformed the industry in the last one year.”
A number of other analysts have also recently issued reports on the stock. HC Wainwright set a $13.00 price objective on shares of Inovio Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Maxim Group set a $12.00 price objective on shares of Inovio Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. ValuEngine cut shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. BidaskClub cut shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, October 27th. Finally, Royal Bank of Canada began coverage on shares of Inovio Pharmaceuticals in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $11.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.16.
Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.15). Inovio Pharmaceuticals had a negative return on equity of 72.19% and a negative net margin of 221.55%. The business had revenue of $2.60 million during the quarter, compared to the consensus estimate of $10.27 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. The firm’s revenue was down 79.2% on a year-over-year basis. analysts predict that Inovio Pharmaceuticals will post -1.12 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. grew its stake in Inovio Pharmaceuticals by 43.6% during the second quarter. Wasatch Advisors Inc. now owns 2,610,818 shares of the biopharmaceutical company’s stock valued at $20,469,000 after acquiring an additional 793,306 shares in the last quarter. Allianz Asset Management GmbH grew 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 worth $1,412,000 after buying an additional 24,652 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Inovio Pharmaceuticals by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,227,219 shares of the biopharmaceutical company’s stock worth $25,301,000 after buying an additional 129,164 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of Inovio Pharmaceuticals by 410.3% in the 3rd quarter. OxFORD Asset Management LLP now owns 126,404 shares of the biopharmaceutical company’s stock worth $799,000 after buying an additional 101,633 shares in the last quarter. Finally, First Interstate Bank grew its stake in shares of Inovio Pharmaceuticals by 291.9% in the 3rd quarter. First Interstate Bank now owns 24,300 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 18,100 shares in the last quarter. 32.12% of the stock is owned by institutional investors.
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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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