Zacks Investment Research cut shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) from a hold rating to a sell rating in a research note issued to investors 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 INO. Maxim Group set a $12.00 price objective on Inovio Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, August 9th. HC Wainwright restated a buy rating and issued a $13.00 price objective on shares of Inovio Pharmaceuticals in a research note on Thursday. ValuEngine upgraded Inovio Pharmaceuticals from a strong sell rating to a sell rating in a research note on Friday, August 11th. BidaskClub lowered Inovio Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada initiated coverage on shares of Inovio Pharmaceuticals in a report on Wednesday, October 18th. They set an outperform rating and a $11.00 price objective for the company. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of C$19.16.
Shares of Inovio Pharmaceuticals (INO) traded up C$0.31 on Monday, reaching C$4.74. 1,969,800 shares of the company’s stock were exchanged, compared to its average volume of 1,281,650. Inovio Pharmaceuticals has a 1-year low of C$4.40 and a 1-year high of C$9.86.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Wednesday, November 8th. The company reported C($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.25) by C($0.15). The company had revenue of C$2.60 million for the quarter, compared to analysts’ expectations of C$10.27 million. Inovio Pharmaceuticals had a negative net margin of 221.55% and a negative return on equity of 72.19%. Inovio Pharmaceuticals’s quarterly revenue was down 79.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. equities research analysts predict that Inovio Pharmaceuticals will post -1.08 earnings per share for the current year.
The firm also recently declared a monthly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.069 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 17.47%. The ex-dividend date was Thursday, September 28th.
Several large investors have recently made changes to their positions in INO. Bank of New York Mellon Corp lifted its holdings in shares of Inovio Pharmaceuticals by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 342,348 shares of the company’s stock valued at $2,266,000 after acquiring an additional 11,765 shares during the last quarter. American International Group Inc. raised its position in Inovio Pharmaceuticals by 7.1% in the 1st quarter. American International Group Inc. now owns 40,856 shares of the company’s stock worth $270,000 after purchasing an additional 2,695 shares during the period. Teachers Advisors LLC raised its position in Inovio Pharmaceuticals by 2.3% in the 1st quarter. Teachers Advisors LLC now owns 151,775 shares of the company’s stock worth $1,005,000 after purchasing an additional 3,411 shares during the period. Vanguard Group Inc. raised its position in Inovio Pharmaceuticals by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 3,098,055 shares of the company’s stock worth $20,510,000 after purchasing an additional 226,861 shares during the period. Finally, Geode Capital Management LLC raised its position in Inovio Pharmaceuticals by 12.5% in the 1st quarter. Geode Capital Management LLC now owns 560,164 shares of the company’s stock worth $3,708,000 after purchasing an additional 62,045 shares during the period. 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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