Maxim Group restated their buy rating on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a report released on Thursday, May 11th, Marketbeat.com reports.
“Inovio reported 1Q17 with $10M in revenue (collaborations, partnerships) and operating expenses of $32M, for a net loss of $23M. The company ended the period with $90M, or ~three quarters of cash at the current burn rate.”,” the firm’s analyst wrote.
INO has been the subject of several other reports. Zacks Investment Research raised Inovio Pharmaceuticals from a hold rating to a buy rating and set a $7.75 price objective for the company in a report on Friday, February 17th. HC Wainwright reissued a buy rating and set a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Friday, February 24th. Stifel Nicolaus reissued a buy rating and set a $11.00 price target on shares of Inovio Pharmaceuticals in a report on Tuesday, April 25th. Piper Jaffray Companies cut Inovio Pharmaceuticals from an overweight rating to a neutral rating and lowered their price target for the stock from $13.00 to $9.00 in a report on Thursday, March 16th. Finally, Nomura reissued a buy rating and set a $40.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $19.57.
Inovio Pharmaceuticals (NASDAQ INO) opened at 7.84 on Thursday. The firm’s market capitalization is $585.08 million. Inovio Pharmaceuticals has a 1-year low of $5.83 and a 1-year high of $11.61. The firm’s 50-day moving average price is $7.30 and its 200 day moving average price is $6.82.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.31). The firm had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $5.83 million. Inovio Pharmaceuticals had a negative return on equity of 65.97% and a negative net margin of 235.91%. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. On average, analysts predict that Inovio Pharmaceuticals will post ($1.10) EPS for the current year.
In other Inovio Pharmaceuticals news, Director David B. Weiner sold 8,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $8.00, for a total value of $64,000.00. Following the sale, the director now owns 740,956 shares in the company, valued at approximately $5,927,648. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Morton Collins purchased 21,300 shares of Inovio Pharmaceuticals stock in a transaction on Monday, March 27th. The stock was bought at an average price of $6.25 per share, for a total transaction of $133,125.00. Following the transaction, the director now directly owns 142,291 shares in the company, valued at approximately $889,318.75. The disclosure for this purchase can be found here. Insiders own 10.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG raised its stake in Inovio Pharmaceuticals by 108.6% in the first quarter. Credit Suisse AG now owns 132,688 shares of the biopharmaceutical company’s stock worth $879,000 after buying an additional 69,068 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Inovio Pharmaceuticals by 8.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 51,573 shares of the biopharmaceutical company’s stock worth $341,000 after buying an additional 4,020 shares during the period. Bank of America Corp DE raised its stake in Inovio Pharmaceuticals by 14.6% in the first quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 3,605 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Inovio Pharmaceuticals by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 305,844 shares of the biopharmaceutical company’s stock worth $2,025,000 after buying an additional 16,845 shares during the period. Finally, Geode Capital Management LLC raised its stake in Inovio Pharmaceuticals by 12.5% in the first quarter. Geode Capital Management LLC now owns 560,164 shares of the biopharmaceutical company’s stock worth $3,708,000 after buying an additional 62,045 shares during the period. Hedge funds and other institutional investors own 27.73% of the company’s stock.
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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