Zacks Investment Research upgraded shares of Inovio Pharmaceuticals (NASDAQ:INO) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $5.50 target price on the biopharmaceutical company’s stock.
According to Zacks, “Inovio Pharmaceuticals, Inc., formerly known as Inovio Biomedical Corporation, is engaged in the discovery, development, and delivery of a new generation of vaccines, called DNA vaccines, focused on cancers and infectious diseases. The Company’s electroporation DNA delivery technology uses brief, controlled electrical pulses to increase cellular DNA vaccine uptake. Inovio’s clinical programs include human papillomavirus (HPV)/cervical cancer (therapeutic), avian influenza (preventative), hepatitis C virus (HCV) and human immunodeficiency virus (HIV) vaccines. It is advancing preclinical research for a universal seasonal/pandemic influenza vaccine. The Company’s partners and collaborators include University of Pennsylvania, National Microbiology Laboratory of the Public Health Agency of Canada, NIAID, Merck, ChronTech, University of Southampton, and HIV Vaccines Trial Network. Inovio Pharmaceuticals, Inc. is headquartered in Blue Bell, Pennsylvania. “
INO has been the topic of several other research reports. Royal Bank of Canada lowered their price target on Inovio Pharmaceuticals from $7.00 to $6.00 and set a sector perform rating on the stock in a research report on Monday, November 1st. Jefferies Financial Group lowered their price target on Inovio Pharmaceuticals from $8.00 to $6.00 and set a hold rating on the stock in a research report on Thursday, December 30th. Finally, HC Wainwright reissued a hold rating on shares of Inovio Pharmaceuticals in a report on Wednesday, December 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $11.08.
Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings data on Tuesday, November 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. The business had revenue of $0.29 million for the quarter, compared to analysts’ expectations of $0.19 million. Inovio Pharmaceuticals had a negative return on equity of 44.10% and a negative net margin of 3,391.88%. During the same quarter in the previous year, the business posted ($0.22) EPS. On average, research analysts forecast that Inovio Pharmaceuticals will post -1.26 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in INO. Teacher Retirement System of Texas lifted its position in shares of Inovio Pharmaceuticals by 17.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 27,753 shares of the biopharmaceutical company’s stock valued at $257,000 after acquiring an additional 4,049 shares during the period. US Bancorp DE lifted its position in shares of Inovio Pharmaceuticals by 18.1% during the 2nd quarter. US Bancorp DE now owns 10,130 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,554 shares during the period. Rhumbline Advisers lifted its position in shares of Inovio Pharmaceuticals by 40.2% during the 2nd quarter. Rhumbline Advisers now owns 312,063 shares of the biopharmaceutical company’s stock valued at $2,893,000 after acquiring an additional 89,453 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Inovio Pharmaceuticals by 584.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,640 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 12,500 shares during the period. Finally, WINTON GROUP Ltd lifted its position in shares of Inovio Pharmaceuticals by 27.2% during the 2nd quarter. WINTON GROUP Ltd now owns 24,478 shares of the biopharmaceutical company’s stock valued at $227,000 after acquiring an additional 5,231 shares during the period. Institutional investors and hedge funds own 36.17% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc engages in the provision of designed DNA medicines to treat and protect people from infectious diseases, cancer, and diseases associated with human papillomavirus. Its product pipeline include VGX-3100, INO-3107, INO-5410, INO-4800, and PENNVAX-GP. The company was founded by David B.
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