Brean Capital Begins Coverage on Inovio Pharmaceuticals Inc. (INO)
Brean Capital began coverage on shares of Inovio Pharmaceuticals Inc. (NASDAQ:INO) in a research note published on Tuesday. The firm issued a buy rating and a $18.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts have also weighed in on INO. Piper Jaffray Cos. reaffirmed an overweight rating and set a $31.00 price objective on shares of Inovio Pharmaceuticals in a research report on Monday, August 8th. HC Wainwright reissued a buy rating and issued a $17.00 target price on shares of Inovio Pharmaceuticals in a report on Tuesday, June 21st. Maxim Group reissued a buy rating and issued a $14.00 target price on shares of Inovio Pharmaceuticals in a report on Tuesday, June 21st. Zacks Investment Research raised Inovio Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, September 14th. Finally, Rodman & Renshaw reissued a buy rating and issued a $17.00 target price on shares of Inovio Pharmaceuticals in a report on Tuesday, June 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $16.39.
Inovio Pharmaceuticals (NASDAQ:INO) traded up 0.908% during mid-day trading on Tuesday, hitting $9.445. The company had a trading volume of 109,919 shares. The firm’s 50 day moving average is $9.21 and its 200 day moving average is $9.56. The company’s market capitalization is $694.66 million. Inovio Pharmaceuticals has a 52 week low of $4.50 and a 52 week high of $11.69.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings data 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. 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 period last year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts predict that Inovio Pharmaceuticals will post ($0.93) EPS for the current year.
In other news, COO Niranjan Sardesai sold 21,800 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 9.90% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new position in Inovio Pharmaceuticals during the second quarter worth about $2,181,000. GSA Capital Partners LLP increased its position in Inovio Pharmaceuticals by 172.4% in the second quarter. GSA Capital Partners LLP now owns 69,200 shares of the biopharmaceutical company’s stock valued at $639,000 after buying an additional 43,800 shares during the period. Bellevue Group AG bought a new position in Inovio Pharmaceuticals during the first quarter valued at $2,308,000. PNC Financial Services Group Inc. increased its position in Inovio Pharmaceuticals by 43.4% in the second quarter. PNC Financial Services Group Inc. now owns 34,566 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 10,466 shares during the period. Finally, Swiss National Bank increased its position in Inovio Pharmaceuticals by 2.2% in the second quarter. Swiss National Bank now owns 113,700 shares of the biopharmaceutical company’s stock valued at $1,051,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors 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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