Citigroup Inc. started coverage on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $10.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on INO. Stifel Nicolaus restated a buy rating and set a $11.00 price target on shares of Inovio Pharmaceuticals in a report on Thursday, May 25th. Zacks Investment Research upgraded Inovio Pharmaceuticals from a hold rating to a buy rating and set a $8.75 price target on the stock in a report on Tuesday, July 11th. Maxim Group set a $12.00 price target on Inovio Pharmaceuticals and gave the company a buy rating in a report on Thursday, June 8th. HC Wainwright restated a buy rating and set a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Friday, June 9th. Finally, ValuEngine upgraded Inovio Pharmaceuticals from a strong sell rating to a sell rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $19.80.

Shares of Inovio Pharmaceuticals (NASDAQ:INO) traded down 0.49% on Wednesday, hitting $6.05. 929,728 shares of the stock traded hands. The firm has a 50 day moving average price of $5.69 and a 200 day moving average price of $6.70. Inovio Pharmaceuticals has a 52-week low of $5.28 and a 52-week high of $9.86. The firm’s market cap is $545.87 million.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. Inovio Pharmaceuticals had a negative return on equity of 63.67% and a negative net margin of 153.46%. The company had revenue of $20.41 million for the quarter, compared to analyst estimates of $16.29 million. During the same quarter in the prior year, the firm posted ($0.26) EPS. Inovio Pharmaceuticals’s quarterly revenue was up 229.2% compared to the same quarter last year. On average, equities analysts forecast that Inovio Pharmaceuticals will post ($0.92) EPS for the current year.

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Institutional investors have recently made changes to their positions in the business. BlueCrest Capital Management Ltd bought a new position in Inovio Pharmaceuticals in the 2nd quarter valued at $107,000. PNC Financial Services Group Inc. grew its position in Inovio Pharmaceuticals by 5.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock valued at $164,000 after acquiring an additional 1,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Inovio Pharmaceuticals in the 2nd quarter valued at $171,000. Bank of America Corp DE grew its position in Inovio Pharmaceuticals by 14.6% in the 1st quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 3,605 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new position in Inovio Pharmaceuticals in the 2nd quarter valued at $194,000. 24.83% of the stock is currently owned by 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.

Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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