Inovio Pharmaceuticals, Inc. (INO) Receives New Coverage from Analysts at Citigroup Inc.

Citigroup Inc. assumed coverage on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a research note released on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $10.00 price target on the biopharmaceutical company’s stock.

INO has been the topic of several other research reports. Aegis reaffirmed a buy rating and issued a $14.00 price target on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. ValuEngine raised shares of Inovio Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, August 11th. Maxim Group raised their price target on shares of Inovio Pharmaceuticals from $10.00 to $12.00 and gave the company a buy rating in a research report on Wednesday, May 24th. HC Wainwright set a $13.00 price target on shares of Inovio Pharmaceuticals and gave the company a buy rating in a research report on Friday, July 7th. Finally, Zacks Investment Research raised shares of Inovio Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Inovio Pharmaceuticals currently has an average rating of Buy and an average target price of $19.80.

Shares of Inovio Pharmaceuticals (INO) opened at 6.05 on Wednesday. Inovio Pharmaceuticals has a 12-month low of $5.28 and a 12-month high of $9.86. The company’s 50-day moving average price is $5.69 and its 200 day moving average price is $6.70. The company’s market cap is $545.87 million.

Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. Inovio Pharmaceuticals had a negative net margin of 153.46% and a negative return on equity of 63.67%. The business had revenue of $20.41 million for the quarter, compared to analysts’ expectations of $16.29 million. During the same quarter last year, the firm earned ($0.26) EPS. The firm’s revenue for the quarter was up 229.2% compared to the same quarter last year. Equities analysts predict that Inovio Pharmaceuticals will post ($0.92) earnings per share for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in INO. BlueCrest Capital Management Ltd purchased a new position in shares of Inovio Pharmaceuticals during the 2nd quarter valued at $107,000. PNC Financial Services Group Inc. grew its position in shares of Inovio Pharmaceuticals by 5.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 1,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Inovio Pharmaceuticals during the 2nd quarter valued at $171,000. Bank of America Corp DE grew its position in shares of Inovio Pharmaceuticals by 14.6% during the 1st quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 3,605 shares in the last quarter. Finally, OxFORD Asset Management LLP purchased a new position in shares of Inovio Pharmaceuticals during the 2nd quarter valued at $194,000. Hedge funds and other institutional investors own 24.83% 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.

Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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