Zacks Investment Research lowered shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) from a hold rating to a sell rating in a research report released on Monday.

According to Zacks, “Inovio reported wider-than-expected loss in the third quarter of 2017 with revenue missing estimates. As the company has no approved product in its portfolio, its excessive dependence on its partners for funding the development of its pipeline candidates is concerning. Moreover, due to early/mid-stage nature of its pipeline, the candidates are several steps away from entering the market. Meanwhile highly lucrative immuno-oncology market has been the focus area of several big pharma giants which may pose intense competition to the candidates once approved. Shares of the company have underperformed the industry so far this year. However, we are positive on the company’s collaboration with big pharma companies like Regeneron, AstraZeneca, and the University of Pennsylvania, as it lends Inovio with their expertise. Moreover, the company’s progress with its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging.”

Several other research firms have also recently weighed in on INO. Aegis restated a buy rating and issued a $14.00 price objective on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. Citigroup Inc. began coverage on shares of Inovio Pharmaceuticals in a research report on Friday, October 6th. They issued a buy rating and a $10.00 price objective for the company. HC Wainwright set a $13.00 price target on shares of Inovio Pharmaceuticals and gave the stock a buy rating in a research report on Friday, October 6th. BidaskClub cut shares of Inovio Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, October 13th. Finally, Royal Bank Of Canada assumed coverage on shares of Inovio Pharmaceuticals in a research report on Wednesday, October 18th. They set an outperform rating and a $11.00 price target for the company. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $19.16.

Inovio Pharmaceuticals (NASDAQ:INO) traded up $0.17 during trading hours on Monday, hitting $4.48. 1,133,500 shares of the stock were exchanged, compared to its average volume of 1,282,404. Inovio Pharmaceuticals has a one year low of $4.20 and a one year high of $9.86.

Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.15). The firm had revenue of $2.60 million for the quarter, compared to the consensus estimate of $10.27 million. Inovio Pharmaceuticals had a negative net margin of 1,290.76% and a negative return on equity of 95.93%. The company’s revenue for the quarter was down 79.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.28) earnings per share. research analysts anticipate that Inovio Pharmaceuticals will post -1.12 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. increased its stake in shares of Inovio Pharmaceuticals by 0.4% in the second quarter. UBS Asset Management Americas Inc. now owns 25,710 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 92 shares during the period. The Manufacturers Life Insurance Company increased its position in Inovio Pharmaceuticals by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,670 shares of the biopharmaceutical company’s stock valued at $428,000 after purchasing an additional 897 shares during the period. PNC Financial Services Group Inc. increased its position in Inovio Pharmaceuticals by 5.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 1,000 shares during the period. American International Group Inc. increased its position in Inovio Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 40,856 shares of the biopharmaceutical company’s stock valued at $270,000 after purchasing an additional 2,695 shares during the period. Finally, Teachers Advisors LLC increased its position in Inovio Pharmaceuticals by 2.3% during the 1st quarter. Teachers Advisors LLC now owns 151,775 shares of the biopharmaceutical company’s stock valued at $1,005,000 after purchasing an additional 3,411 shares during the period. Institutional investors and hedge funds own 24.98% 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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Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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