Investment analysts at Brean Capital initiated coverage on shares of Inovio Pharmaceuticals Inc. (NASDAQ:INO) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating and a $18.00 price target on the biopharmaceutical company’s stock. Brean Capital’s price objective indicates a potential upside of 90.88% from the company’s previous close.
A number of other research analysts have also recently commented on the company. Zacks Investment Research raised Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. HC Wainwright initiated coverage on Inovio Pharmaceuticals in a report on Monday, August 29th. They set a “buy” rating and a $17.00 price objective on the stock. Maxim Group reissued a “hold” rating on shares of Inovio Pharmaceuticals in a report on Thursday, August 18th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $31.00 price objective on shares of Inovio Pharmaceuticals in a report on Monday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.39.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) opened at 9.43 on Tuesday. The firm’s market capitalization is $693.56 million. The stock’s 50 day moving average price is $9.19 and its 200-day moving average price is $9.57. Inovio Pharmaceuticals has a 52 week low of $4.50 and a 52 week high of $11.69.
Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.05. Inovio Pharmaceuticals had a negative net margin of 88.19% and a negative return on equity of 22.29%. The firm had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $4.95 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Inovio Pharmaceuticals will post ($0.93) earnings per share for the current year.
In other Inovio Pharmaceuticals news, COO Niranjan Sardesai sold 21,800 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $9.30, for a total value of $202,740.00. Following the transaction, the chief operating officer now directly owns 70,234 shares in the company, valued at approximately $653,176.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.90% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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 purchased a new position in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $113,000. Hedge funds and other institutional investors own 28.58% of the company’s stock.
Inovio Pharmaceuticals Company Profile
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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