Zacks Investment Research upgraded shares of Inovio Pharmaceuticals (NASDAQ:INO) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $5.50 price objective 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. “
Several other equities analysts have also recently weighed in on INO. HC Wainwright reiterated a hold rating on shares of Inovio Pharmaceuticals in a research report on Wednesday, December 15th. Jefferies Financial Group reduced their price target on Inovio Pharmaceuticals from $8.00 to $6.00 and set a hold rating for the company in a research report on Thursday, December 30th. Finally, Royal Bank of Canada reduced their price target on Inovio Pharmaceuticals from $7.00 to $6.00 and set a sector perform rating for the company in a research report on Monday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $11.08.
Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Tuesday, November 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. The business had revenue of $0.29 million during the quarter, compared to the consensus estimate 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 period last year, the business posted ($0.22) earnings per share. On average, equities analysts predict that Inovio Pharmaceuticals will post -1.26 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in Inovio Pharmaceuticals during the second quarter worth about $38,000. Daiwa Securities Group Inc. lifted its stake in shares of Inovio Pharmaceuticals by 1,755.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,589 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 7,180 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Inovio Pharmaceuticals in the 3rd quarter valued at about $59,000. Parametrica Management Ltd bought a new stake in shares of Inovio Pharmaceuticals in the 3rd quarter valued at about $75,000. Finally, Capula Management Ltd bought a new stake in shares of Inovio Pharmaceuticals in the 3rd quarter valued at about $78,000. 36.17% of the stock is owned by hedge funds and other institutional investors.
Inovio Pharmaceuticals Company Profile
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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