Inovio Pharmaceuticals, Inc. (NASDAQ:INO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Inovio has a collaboration agreement with several companies and institutes like big pharma companies Roche, AstraZeneca, and the University of Pennsylvania, which not only lend it their expertise but also provide the required funding for development of its pipeline candidates. Also, the company’s progress with its pipeline is impressive. Nonetheless, the company’s targeted cervical cancer market holds huge untapped potential. The initiation of phase III program on its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging. However, due to the early/mid-stage nature of Inovio’s pipeline, the company is highly dependent on VGX-3100, which is concerning. Shares of the company have underperformed the industry so far this year.”
A number of other research analysts also recently weighed in on INO. HC Wainwright set a $13.00 price target on Inovio Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, July 7th. Aegis reaffirmed a “buy” rating and set a $14.00 price target on shares of Inovio Pharmaceuticals in a research note on Tuesday, July 18th. BidaskClub downgraded Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Maxim Group set a $12.00 price target on Inovio Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, ValuEngine raised Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.98.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $20.41 million for the quarter, compared to the consensus estimate of $16.29 million. During the same period in the prior year, the business earned ($0.26) EPS. The firm’s revenue for the quarter was up 229.2% on a year-over-year basis. On average, equities research analysts predict that Inovio Pharmaceuticals will post ($0.92) EPS for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the business. BlueCrest Capital Management Ltd bought a new stake in Inovio Pharmaceuticals during the 2nd quarter worth approximately $107,000. PNC Financial Services Group Inc. increased its holdings in Inovio Pharmaceuticals by 5.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock worth $164,000 after purchasing an additional 1,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Inovio Pharmaceuticals during the 2nd quarter worth approximately $171,000. OxFORD Asset Management LLP bought a new stake in Inovio Pharmaceuticals during the 2nd quarter worth approximately $194,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Inovio Pharmaceuticals during the 2nd quarter worth approximately $197,000. 24.83% of the stock is owned by hedge funds and other 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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