Royal Bank of Canada Reiterates Sector Perform Rating for Inovio Pharmaceuticals (NASDAQ:INO)

Inovio Pharmaceuticals (NASDAQ:INO)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $5.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 156.41% from the stock’s current price.

Several other research firms have also commented on INO. Oppenheimer reduced their target price on shares of Inovio Pharmaceuticals from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday. HC Wainwright reissued a “neutral” rating and issued a $3.00 price target on shares of Inovio Pharmaceuticals in a report on Wednesday, March 19th. Finally, StockNews.com lowered shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.75.

Inovio Pharmaceuticals Stock Performance

INO stock opened at $1.95 on Wednesday. Inovio Pharmaceuticals has a 52 week low of $1.42 and a 52 week high of $13.44. The firm’s fifty day moving average is $1.80 and its 200 day moving average is $2.53. The firm has a market cap of $71.51 million, a P/E ratio of -0.49 and a beta of 1.40.

Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.23. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.01 million. As a group, analysts forecast that Inovio Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Inovio Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Deep Track Capital LP boosted its stake in shares of Inovio Pharmaceuticals by 72.9% during the 4th quarter. Deep Track Capital LP now owns 3,119,162 shares of the biopharmaceutical company’s stock valued at $5,708,000 after purchasing an additional 1,314,796 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Inovio Pharmaceuticals during the 4th quarter valued at about $1,922,000. AIGH Capital Management LLC bought a new stake in shares of Inovio Pharmaceuticals during the 4th quarter valued at about $1,197,000. Bank of America Corp DE boosted its stake in shares of Inovio Pharmaceuticals by 1,035.2% during the 4th quarter. Bank of America Corp DE now owns 640,987 shares of the biopharmaceutical company’s stock valued at $1,173,000 after purchasing an additional 584,521 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Inovio Pharmaceuticals by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 628,505 shares of the biopharmaceutical company’s stock valued at $1,150,000 after purchasing an additional 6,874 shares in the last quarter. Institutional investors own 26.79% of the company’s stock.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.