Zacks Investment Research upgraded shares of Inovio Pharmaceuticals (NASDAQ:INO) from a sell rating to a hold rating in a report issued on Tuesday morning.
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.”
INO has been the topic of a number of other reports. Citigroup initiated coverage on Inovio Pharmaceuticals in a research report on Friday, October 6th. They set a buy rating and a $10.00 price target on the stock. BidaskClub cut Inovio Pharmaceuticals from a hold rating to a sell rating in a research report on Monday, September 18th. Royal Bank of Canada assumed coverage on Inovio Pharmaceuticals in a research report on Wednesday, October 18th. They set an outperform rating and a $11.00 price target on the stock. Maxim Group set a $12.00 target price on Inovio Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, January 2nd. Finally, HC Wainwright set a $13.00 target price on Inovio Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Inovio Pharmaceuticals currently has a consensus rating of Hold and a consensus price target of $19.16.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). The company had revenue of $2.60 million for the quarter, compared to analyst estimates of $10.27 million. Inovio Pharmaceuticals had a negative return on equity of 72.19% and a negative net margin of 221.55%. The firm’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 research analysts predict that Inovio Pharmaceuticals will post -1.12 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL acquired a new stake in Inovio Pharmaceuticals in the 3rd quarter valued at approximately $101,000. BlueCrest Capital Management Ltd acquired a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $107,000. Neuberger Berman Group LLC acquired a new stake in Inovio Pharmaceuticals in the 3rd quarter valued at approximately $115,000. Engineers Gate Manager LP acquired a new stake in Inovio Pharmaceuticals in the 3rd quarter valued at approximately $117,000. Finally, Emerald Advisers Inc. PA increased its position in Inovio Pharmaceuticals by 84.0% in the 3rd quarter. Emerald Advisers Inc. PA now owns 20,323 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 9,280 shares during the period. Hedge funds and other institutional investors own 32.12% 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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