Piper Sandler Reaffirms “Overweight” Rating for Inovio Pharmaceuticals (NASDAQ:INO)

Inovio Pharmaceuticals (NASDAQ:INO)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $4.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $6.00. Piper Sandler’s price objective indicates a potential upside of 460.22% from the stock’s current price.

Several other research firms also recently commented on INO. Wall Street Zen downgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. HC Wainwright cut their price objective on shares of Inovio Pharmaceuticals from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Monday, June 1st. Finally, Weiss Ratings upgraded Inovio Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.25.

Inovio Pharmaceuticals Trading Up 5.5%

Shares of NASDAQ INO traded up $0.04 during midday trading on Monday, reaching $0.71. The company’s stock had a trading volume of 4,730,859 shares, compared to its average volume of 2,230,962. Inovio Pharmaceuticals has a fifty-two week low of $0.56 and a fifty-two week high of $2.98. The stock has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $1.35. The stock has a market capitalization of $58.74 million, a price-to-earnings ratio of -0.50 and a beta of 1.52.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. As a group, equities analysts anticipate that Inovio Pharmaceuticals will post -1.03 EPS for the current year.

Institutional Trading of Inovio Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Inovio Pharmaceuticals by 39.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,781 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 5,894 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Inovio Pharmaceuticals during the 3rd quarter valued at about $33,000. Raymond James Financial Inc. grew its holdings in shares of Inovio Pharmaceuticals by 4,396.0% during the third quarter. Raymond James Financial Inc. now owns 16,680 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 16,309 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Inovio Pharmaceuticals by 3.8% in the fourth quarter. GSA Capital Partners LLP now owns 459,828 shares of the biopharmaceutical company’s stock worth $800,000 after purchasing an additional 16,724 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Inovio Pharmaceuticals in the third quarter valued at approximately $41,000. Institutional investors own 26.79% of the company’s stock.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals is a biotechnology company focused on the discovery, development and commercialization of DNA-based immunotherapies and vaccines aimed at treating and preventing infectious diseases and cancers. The company leverages proprietary technologies to design synthetic DNA sequences that encode antigens capable of eliciting targeted immune responses. Inovio’s business activities span early research through clinical development, with a primary emphasis on advancing candidates against viral pathogens such as SARS-CoV-2, human papillomavirus (HPV), HIV, Ebola, Zika and other emerging threats.

Central to Inovio’s platform is its SynCon® technology, which constructs optimized DNA plasmids for broad antigen coverage, and the Cellectra® electroporation device, designed to enhance cellular uptake and expression of DNA vaccines.