Inovio Pharmaceuticals (NASDAQ:INO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Inovio’s progress with its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging. We are also positive on the company’s collaboration with big pharma companies like Regeneron, AstraZeneca, and the University of Pennsylvania, as it lends Inovio with their expertise. Moreover, the company’s targeted cervical cancer market holds untapped potential. On the flip side, as the company has no approved product in its portfolio, its excessive dependence on its partners for funding the development of its pipeline candidates is concerning. Moreover, due to early/mid-stage nature of its pipeline, the candidates are several steps away from entering the market. Shares of the company have underperformed the industry in the last one year.”
Several other brokerages also recently issued reports on INO. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Inovio Pharmaceuticals in a research note on Tuesday, September 12th. ValuEngine downgraded shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. Royal Bank of Canada started coverage on shares of Inovio Pharmaceuticals in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $11.00 target price for the company. BidaskClub downgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Finally, Maxim Group set a $12.00 target price on shares of Inovio Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Inovio Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $19.16.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.15). The company had revenue of $2.60 million during the quarter, compared to the consensus estimate of $10.27 million. Inovio Pharmaceuticals had a negative net margin of 221.55% and a negative return on equity of 72.19%. Inovio Pharmaceuticals’s revenue was down 79.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) EPS. research analysts anticipate that Inovio Pharmaceuticals will post -1.12 EPS for the current year.
A number of large investors have recently modified their holdings of INO. Virginia Retirement Systems ET AL acquired a new stake in Inovio Pharmaceuticals during the third quarter worth approximately $101,000. BlueCrest Capital Management Ltd acquired a new stake in Inovio Pharmaceuticals during the second quarter worth approximately $107,000. Neuberger Berman Group LLC acquired a new stake in Inovio Pharmaceuticals during the third quarter worth approximately $115,000. Engineers Gate Manager LP acquired a new stake in Inovio Pharmaceuticals during the third quarter worth approximately $117,000. Finally, Emerald Advisers Inc. PA lifted its position in Inovio Pharmaceuticals by 84.0% during the third quarter. Emerald Advisers Inc. PA now owns 20,323 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 9,280 shares during the last quarter. Institutional investors and hedge funds own 32.12% 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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