HC Wainwright Reaffirms Buy Rating for Inovio Pharmaceuticals, Inc. (INO)
Inovio Pharmaceuticals, Inc. (NASDAQ:INO)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday. They currently have a $13.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 115.59% from the company’s previous close.
A number of other research firms also recently commented on INO. Stifel Nicolaus reiterated a “buy” rating and issued a $11.00 price target on shares of Inovio Pharmaceuticals in a research note on Thursday, May 25th. BidaskClub upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded Inovio Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Tuesday, July 11th. Maxim Group set a $12.00 price target on Inovio Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, June 8th. Finally, Piper Jaffray Companies upgraded Inovio Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $14.00 price target for the company in a research note on Thursday, June 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $19.80.
Shares of Inovio Pharmaceuticals (INO) traded down 0.83% during mid-day trading on Tuesday, reaching $5.98. The company’s stock had a trading volume of 1,164,657 shares. Inovio Pharmaceuticals has a 52 week low of $5.28 and a 52 week high of $9.86. The firm has a 50-day moving average of $5.68 and a 200-day moving average of $6.70. The firm’s market capitalization is $539.56 million.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.08. The company had revenue of $20.41 million during the quarter, compared to the consensus estimate of $16.29 million. Inovio Pharmaceuticals had a negative return on equity of 63.67% and a negative net margin of 153.46%. The company’s revenue was up 229.2% on a year-over-year basis. During the same period last year, the firm earned ($0.26) earnings per share. Equities research analysts forecast that Inovio Pharmaceuticals will post ($0.92) earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $107,000. PNC Financial Services Group Inc. raised its holdings in shares of Inovio Pharmaceuticals by 5.0% during the second quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 1,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $171,000. Bank of America Corp DE raised its holdings in shares of Inovio Pharmaceuticals by 14.6% during the first quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 3,605 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $194,000. 24.83% of the stock is currently owned by institutional investors.
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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