Inovio Pharmaceuticals, Inc. (NASDAQ:INO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Inovio has a collaboration agreement with several companies and institutes like big pharma companies Roche, AstraZeneca, and the University of Pennsylvania, which not only lend it their expertise but also provide the required funding for development of its pipeline candidates. Also, the company’s progress with its pipeline is impressive. Nonetheless, the company’s targeted cervical cancer market holds huge untapped potential. The initiation of phase III program on its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging. However, due to the early/mid-stage nature of Inovio’s pipeline, the company is highly dependent on VGX-3100, which is concerning. Shares of the company have underperformed the industry so far this year.”
Other analysts also recently issued reports about the company. HC Wainwright set a $13.00 target price on Inovio Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, July 7th. Citigroup Inc. started coverage on Inovio Pharmaceuticals in a research note on Wednesday, September 6th. They set a “buy” rating and a $10.00 target price for the company. Aegis restated a “buy” rating and set a $14.00 target price on shares of Inovio Pharmaceuticals in a research note on Tuesday, July 18th. Maxim Group restated a “buy” rating and set a $12.00 target price on shares of Inovio Pharmaceuticals in a research note on Tuesday, September 12th. Finally, BidaskClub upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Inovio Pharmaceuticals has an average rating of “Hold” and an average target price of $19.98.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.08. Inovio Pharmaceuticals had a negative return on equity of 63.67% and a negative net margin of 153.46%. The firm had revenue of $20.41 million during the quarter, compared to the consensus estimate of $16.29 million. During the same period in the prior year, the firm earned ($0.26) EPS. The firm’s quarterly revenue was up 229.2% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the company. BlueCrest Capital Management Ltd bought a new position in shares of Inovio Pharmaceuticals during the second quarter worth about $107,000. PNC Financial Services Group Inc. lifted its position in shares of Inovio Pharmaceuticals by 5.0% during the second quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock worth $164,000 after purchasing an additional 1,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Inovio Pharmaceuticals during the second quarter worth about $171,000. OxFORD Asset Management LLP bought a new position in shares of Inovio Pharmaceuticals during the second quarter worth about $194,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Inovio Pharmaceuticals during the second quarter worth about $197,000. 24.83% of the stock is currently owned by institutional investors and hedge funds.
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.
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