Inovio Pharmaceuticals’ (INO) Buy Rating Reiterated at HC Wainwright

Inovio Pharmaceuticals (NASDAQ:INO)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $5.00 target price on the biopharmaceutical company’s stock. HC Wainwright‘s price target indicates a potential upside of 238.98% from the stock’s current price.

Several other equities analysts also recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $8.00 price objective (up from $3.00) on shares of Inovio Pharmaceuticals in a research report on Friday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inovio Pharmaceuticals in a research report on Wednesday. Wall Street Zen raised Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research downgraded Inovio Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $6.00 price target (down from $8.00) on shares of Inovio Pharmaceuticals in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inovio Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $6.33.

Inovio Pharmaceuticals Stock Performance

Shares of INO stock opened at $1.48 on Thursday. Inovio Pharmaceuticals has a one year low of $0.56 and a one year high of $2.72. The company’s fifty day moving average price is $1.18 and its 200-day moving average price is $1.27.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Tuesday, November 10th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.29). The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $2.27 million. Equities research analysts predict that Inovio Pharmaceuticals will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its holdings in shares of Inovio Pharmaceuticals by 104.8% during the 3rd quarter. HighTower Advisors LLC now owns 26,076 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 13,346 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Inovio Pharmaceuticals in the second quarter worth about $33,000. Engineers Gate Manager LP purchased a new stake in shares of Inovio Pharmaceuticals in the second quarter worth about $37,000. Squarepoint Ops LLC lifted its position in shares of Inovio Pharmaceuticals by 46.5% in the second quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 11,554 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in shares of Inovio Pharmaceuticals by 312.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 70,636 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 53,510 shares in the last quarter. Institutional investors own 26.79% of the company’s stock.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc. is a biotechnology company focused on developing DNA medicines, including DNA-based vaccines and immunotherapies designed to treat or prevent infectious diseases, cancers and other serious conditions. The company’s platform is intended to stimulate targeted immune responses by delivering DNA medicines into cells. Inovio’s product pipeline has included investigational therapies such as INO-3107, a DNA immunotherapy being developed for recurrent respiratory papillomatosis, and other candidates targeting cancer and infectious diseases.