Citigroup Inc. initiated coverage on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a report published on Friday. The firm issued a buy rating and a $10.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on INO. Maxim Group set a $12.00 price objective on shares of Inovio Pharmaceuticals and gave the company a buy rating in a report on Wednesday, August 9th. HC Wainwright set a $13.00 price objective on shares of Inovio Pharmaceuticals and gave the company a buy rating in a report on Wednesday, August 9th. ValuEngine raised shares of Inovio Pharmaceuticals from a strong sell rating to a sell rating in a report on Friday, August 11th. BidaskClub downgraded shares of Inovio Pharmaceuticals from a hold rating to a sell rating in a report on Friday, July 28th. Finally, Aegis reiterated a buy rating and issued a $14.00 target price on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $19.98.

Shares of Inovio Pharmaceuticals (NASDAQ INO) opened at 6.51 on Friday. The company’s market capitalization is $587.38 million. The firm has a 50-day moving average of $6.08 and a 200-day moving average of $6.65. Inovio Pharmaceuticals has a one year low of $5.28 and a one year high of $9.86.

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

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A number of hedge funds have recently made changes to their positions in INO. Wells Fargo & Company MN boosted its stake in Inovio Pharmaceuticals by 28.9% during the first quarter. Wells Fargo & Company MN now owns 124,565 shares of the biopharmaceutical company’s stock worth $825,000 after buying an additional 27,898 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Inovio Pharmaceuticals by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 342,348 shares of the biopharmaceutical company’s stock valued at $2,266,000 after purchasing an additional 11,765 shares during the period. American International Group Inc. boosted its stake in shares of Inovio Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 40,856 shares of the biopharmaceutical company’s stock valued at $270,000 after purchasing an additional 2,695 shares during the period. Teachers Advisors LLC boosted its stake in shares of Inovio Pharmaceuticals by 2.3% in the first quarter. Teachers Advisors LLC now owns 151,775 shares of the biopharmaceutical company’s stock valued at $1,005,000 after purchasing an additional 3,411 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Inovio Pharmaceuticals by 7.9% in the first quarter. Vanguard Group Inc. now owns 3,098,055 shares of the biopharmaceutical company’s stock valued at $20,510,000 after purchasing an additional 226,861 shares during the period. 24.83% of the stock is 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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