Inovio Pharmaceuticals Inc. (INO) Cut to Sell at Zacks Investment Research
According to Zacks, “Inovio, a development-stage biopharmaceutical company, is focused on the development of treatments targeting various cancer forms and infectious diseases. Inovio received a huge setback when Roche decided to discontinue its collaboration with the company for the development of hepatitis B DNA immunotherapy, INO-1800. Following the decision, the company has resolved to develop INO-1800 independently. We note that being a development-stage company, Inovio depends largely on government grants and contracts for the development of its candidates. Thus, inability to secure sufficient funding could hinder its pipeline progress. 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. However, 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 late in 2016.”
Other equities research analysts have also issued research reports about the stock. Vetr lowered 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 began coverage on shares of Inovio Pharmaceuticals in a report on Monday, August 29th. They issued a buy rating and a $17.00 price target for the company. Stifel Nicolaus restated a buy rating and issued a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Sunday, July 17th. Maxim Group lowered shares of Inovio Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. restated an overweight rating and issued a $31.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $16.39.
Inovio Pharmaceuticals (NASDAQ:INO) opened at 9.74 on Tuesday. The company’s 50-day moving average is $9.11 and its 200-day moving average is $9.38. Inovio Pharmaceuticals has a 12 month low of $4.50 and a 12 month high of $11.69. The company’s market cap is $716.36 million.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share 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 company had revenue of $6.20 million for the quarter, compared to the consensus estimate of $4.95 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts expect that Inovio Pharmaceuticals will post ($0.93) EPS for the current fiscal year.
In other Inovio Pharmaceuticals news, Director Morton Collins acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, June 28th. The stock was acquired at an average cost of $9.13 per share, for a total transaction of $91,300.00. Following the purchase, the director now owns 142,291 shares in the company, valued at approximately $1,299,116.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Niranjan Sardesai sold 21,800 shares of Inovio Pharmaceuticals stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $9.30, for a total transaction of $202,740.00. Following the sale, the chief operating officer now owns 70,234 shares of the company’s stock, valued at $653,176.20. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake 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 last quarter. Raymond James & Associates boosted its stake 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 last quarter. Quantbot Technologies LP boosted its stake 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 last quarter. Acrospire Investment Management LLC boosted its stake 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 last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $113,000. Institutional investors and hedge funds 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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