Inovio Pharmaceuticals (NASDAQ:INO) had its target price reduced by Piper Jaffray Companies from $12.00 to $10.00 in a research report released on Wednesday, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock. Piper Jaffray Companies also issued estimates for Inovio Pharmaceuticals’ Q2 2019 earnings at ($0.30) EPS, Q3 2019 earnings at ($0.26) EPS, Q4 2019 earnings at $0.00 EPS, FY2019 earnings at ($0.87) EPS, Q1 2020 earnings at ($0.24) EPS, Q2 2020 earnings at ($0.24) EPS, Q3 2020 earnings at ($0.24) EPS, Q4 2020 earnings at ($0.23) EPS, FY2020 earnings at ($0.95) EPS, FY2021 earnings at ($0.95) EPS, FY2022 earnings at ($0.46) EPS and FY2023 earnings at $0.03 EPS.
Other equities analysts also recently issued research reports about the stock. Maxim Group reissued a buy rating and set a $8.00 price target on shares of Inovio Pharmaceuticals in a report on Wednesday, April 3rd. Zacks Investment Research downgraded shares of Hanger from a hold rating to a sell rating in a report on Tuesday, May 28th. Cantor Fitzgerald began coverage on shares of Inovio Pharmaceuticals in a report on Monday, March 25th. They set an overweight rating and a $3.62 price target for the company. HC Wainwright set a $4.00 price target on shares of Uranium Energy and gave the company a buy rating in a report on Tuesday, June 11th. Finally, BidaskClub downgraded shares of Inovio Pharmaceuticals from a sell rating to a strong sell rating in a report on Saturday, June 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Inovio Pharmaceuticals presently has an average rating of Buy and a consensus price target of $7.69.
Shares of INO opened at $2.79 on Wednesday. Inovio Pharmaceuticals has a 1 year low of $2.15 and a 1 year high of $6.30. The firm has a market capitalization of $282.34 million, a P/E ratio of -2.66 and a beta of 2.03. The company has a current ratio of 4.92, a quick ratio of 4.92 and a debt-to-equity ratio of 1.02. The company’s fifty day moving average price is $2.71.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.01). Inovio Pharmaceuticals had a negative net margin of 295.24% and a negative return on equity of 97.95%. The firm had revenue of $2.83 million for the quarter, compared to analyst estimates of $4.44 million. On average, equities analysts expect that Inovio Pharmaceuticals will post -0.98 EPS for the current fiscal year.
In related news, insider Laurent Humeau acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $2.50 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the insider now directly owns 45,833 shares in the company, valued at $114,582.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jong Joseph Kim sold 2,129,553 shares of Inovio Pharmaceuticals stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $2.36, for a total transaction of $5,025,745.08. Following the sale, the chief executive officer now owns 1,911,055 shares in the company, valued at $4,510,089.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,866,321 shares of company stock worth $7,055,433. Company insiders own 7.90% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Inovio Pharmaceuticals by 41.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 737,962 shares of the biopharmaceutical company’s stock worth $2,952,000 after acquiring an additional 217,536 shares in the last quarter. Paloma Partners Management Co raised its position in Inovio Pharmaceuticals by 38.7% in the fourth quarter. Paloma Partners Management Co now owns 16,201 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 4,522 shares in the last quarter. Bank of New York Mellon Corp raised its position in Inovio Pharmaceuticals by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 360,828 shares of the biopharmaceutical company’s stock worth $1,444,000 after acquiring an additional 13,303 shares in the last quarter. Geode Capital Management LLC raised its position in Inovio Pharmaceuticals by 14.2% in the fourth quarter. Geode Capital Management LLC now owns 1,004,095 shares of the biopharmaceutical company’s stock worth $4,016,000 after acquiring an additional 124,966 shares in the last quarter. Finally, Northern Trust Corp raised its position in Inovio Pharmaceuticals by 1.0% in the fourth quarter. Northern Trust Corp now owns 1,048,508 shares of the biopharmaceutical company’s stock worth $4,194,000 after acquiring an additional 10,768 shares in the last quarter. Hedge funds and other institutional investors own 47.24% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of DNA-based immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.
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