According to Zacks, “Inovio got a boost with the initiation of the second study on its preventive Zika vaccine, GLS-5700, in Puerto Rico. The first study on the Zika vaccine is already underway in the U.S. and Canada. Meanwhile, we are positive on the company’s progress with its lead cancer candidate, VGX-3100, which is expected to move into a late-stage study later this year. Further, we are pleased with the company’s collaborations with other companies and institutes for pipeline development. However, Inovio depends largely on government grants and contracts for the development of its candidates. Inability to secure sufficient funding could hinder pipeline progress. Termination of the agreement with Roche for INO-1800 is also concerning. Moreover, most of Inovio’s pipeline candidates are in early stages of development and thus, quite a few years away from entering the market, if at all.”
INO has been the subject of a number of other research reports. Vetr downgraded shares of Inovio Pharmaceuticals from a strong-buy rating to a buy rating and set a $11.11 price target for the company. in a report on Monday, August 1st. HC Wainwright initiated coverage on shares of Inovio Pharmaceuticals in a report on Monday, August 29th. They set a buy rating and a $17.00 price target for the company. Stifel Nicolaus restated a buy rating and set a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Sunday, July 17th. Maxim Group restated a buy rating and set a $14.00 price target on shares of Inovio Pharmaceuticals in a report on Tuesday, June 21st. Finally, Rodman & Renshaw restated a buy rating and set a $17.00 price target on shares of Inovio Pharmaceuticals in a report on Tuesday, June 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Inovio Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $16.39.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) opened at 9.26 on Monday. Inovio Pharmaceuticals has a one year low of $4.50 and a one year high of $11.69. The stock’s market cap is $681.05 million. The company has a 50 day moving average price of $9.13 and a 200-day moving average price of $9.47.
Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.05. The company earned $6.20 million during the quarter, compared to analysts’ expectations of $4.95 million. Inovio Pharmaceuticals had a negative net margin of 88.19% and a negative return on equity of 22.29%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) earnings per share. Equities analysts predict that Inovio Pharmaceuticals will post ($0.93) earnings per share for the current fiscal year.
In other Inovio Pharmaceuticals news, COO Niranjan Sardesai sold 21,800 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $9.30, for a total value of $202,740.00. Following the completion of the transaction, the chief operating officer now owns 70,234 shares in the company, valued at $653,176.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of INO. Janney Montgomery Scott LLC increased its position in Inovio Pharmaceuticals by 13.0% in the second quarter. Janney Montgomery Scott LLC now owns 15,250 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 1,750 shares during the period. Raymond James & Associates increased its position in Inovio Pharmaceuticals by 9.8% in the second quarter. Raymond James & Associates now owns 11,313 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 1,013 shares during the period. Quantbot Technologies LP increased its position in Inovio Pharmaceuticals by 3,878.4% in the second quarter. Quantbot Technologies LP now owns 11,617 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 11,325 shares during the period. Acrospire Investment Management LLC increased its position in Inovio Pharmaceuticals by 94.3% in the second quarter. Acrospire Investment Management LLC now owns 12,108 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 5,875 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Inovio Pharmaceuticals during the second quarter valued at approximately $113,000. Institutional investors and hedge funds own 28.58% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a bio-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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