Royal Bank Of Canada Initiates Coverage on Inovio Pharmaceuticals Inc (INO)
Research analysts at Royal Bank Of Canada initiated coverage on shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) in a report issued on Wednesday. The firm set an “outperform” rating and a $11.00 price target on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 76.57% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Tuesday, September 12th. BidaskClub upgraded shares of Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Zacks Investment Research upgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Tuesday, July 11th. Maxim Group set a $12.00 price target on shares of Inovio Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Aegis reiterated a “buy” rating and set a $14.00 price target on shares of Inovio Pharmaceuticals in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $19.16.
Inovio Pharmaceuticals (NASDAQ:INO) traded down 0.32% during trading on Wednesday, reaching $6.23. The company’s stock had a trading volume of 869,299 shares. The company has a 50-day moving average of $6.22 and a 200 day moving average of $6.64. Inovio Pharmaceuticals has a one year low of $5.28 and a one year high of $9.86. The firm’s market cap is $562.11 million.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.08. The business had revenue of $20.41 million for the quarter, compared to analysts’ expectations of $16.29 million. Inovio Pharmaceuticals had a negative net margin of 46.44% and a negative return on equity of 33.16%. The business’s revenue was up 229.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.26) earnings per share. Analysts expect that Inovio Pharmaceuticals will post ($0.95) EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of INO. Wasatch Advisors Inc. boosted its holdings in Inovio Pharmaceuticals by 43.6% in the second quarter. Wasatch Advisors Inc. now owns 2,610,818 shares of the biopharmaceutical company’s stock worth $20,469,000 after purchasing an additional 793,306 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Inovio Pharmaceuticals by 7.9% in the first quarter. Vanguard Group Inc. now owns 3,098,055 shares of the biopharmaceutical company’s stock worth $20,510,000 after purchasing an additional 226,861 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Inovio Pharmaceuticals in the second quarter worth approximately $1,411,000. GSA Capital Partners LLP purchased a new stake in Inovio Pharmaceuticals in the second quarter worth approximately $1,035,000. Finally, Virtu KCG Holdings LLC purchased a new stake in Inovio Pharmaceuticals in the second quarter worth approximately $556,000. Institutional investors own 24.83% of the company’s stock.
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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