Aegis Reiterates Buy Rating for Inovio Pharmaceuticals, Inc. (NASDAQ:INO)
Inovio Pharmaceuticals, Inc. (NASDAQ:INO)‘s stock had its “buy” rating reissued by stock analysts at Aegis in a research report issued to clients and investors on Tuesday. They currently have a $14.00 price target on the biopharmaceutical company’s stock. Aegis’ price target would indicate a potential upside of 106.49% from the stock’s previous close.
A number of other brokerages have also weighed in on INO. Zacks Investment Research lowered shares of Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $11.00 price target on shares of Inovio Pharmaceuticals in a research note on Tuesday, April 25th. BNP Paribas reaffirmed a “neutral” rating and set a $39.00 price target on shares of Inovio Pharmaceuticals in a research note on Monday, May 1st. Jefferies Group LLC reaffirmed a “neutral” rating and set a $38.00 price target on shares of Inovio Pharmaceuticals in a research note on Monday, May 1st. Finally, Nomura reaffirmed a “buy” rating and set a $40.00 price target on shares of Inovio Pharmaceuticals in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $19.90.
Inovio Pharmaceuticals (INO) traded down 10.6858% during midday trading on Tuesday, reaching $6.0555. The company had a trading volume of 6,470,029 shares. The stock’s 50 day moving average price is $7.88 and its 200-day moving average price is $6.96. The firm’s market capitalization is $451.90 million. Inovio Pharmaceuticals has a one year low of $5.83 and a one year high of $11.00.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.31). The business had revenue of $10.40 million for the quarter, compared to analyst estimates of $5.83 million. Inovio Pharmaceuticals had a negative net margin of 235.91% and a negative return on equity of 65.97%. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. On average, equities research analysts anticipate that Inovio Pharmaceuticals will post ($1.10) earnings per share for the current year.
In related news, Director David B. Weiner sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $8.00, for a total transaction of $64,000.00. Following the sale, the director now owns 740,956 shares of the company’s stock, valued at approximately $5,927,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Inovio Pharmaceuticals by 14.6% in the first quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 3,605 shares during the period. Private Capital Advisors Inc. purchased a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at $274,000. American International Group Inc. boosted its stake in shares of Inovio Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 40,856 shares of the biopharmaceutical company’s stock valued at $270,000 after buying an additional 2,695 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Inovio Pharmaceuticals by 8.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 51,573 shares of the biopharmaceutical company’s stock valued at $341,000 after buying an additional 4,020 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Inovio Pharmaceuticals during the fourth quarter valued at $559,000. 27.74% of the stock is owned by institutional investors.
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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