Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.17.

A number of research analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $4.00 price objective on shares of Inovio Pharmaceuticals in a research report on Monday, August 3rd. Weiss Ratings downgraded shares of Inovio Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Zacks Research upgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. HC Wainwright reissued a “neutral” rating on shares of Inovio Pharmaceuticals in a report on Thursday, August 13th. Finally, Jefferies Financial Group upgraded Inovio Pharmaceuticals from a “hold” rating to a “positive” rating and raised their price target for the stock from $1.80 to $3.00 in a research note on Thursday, August 13th.

Inovio Pharmaceuticals Price Performance

INO stock opened at $1.13 on Friday. The stock has a market capitalization of $116.84 million, a P/E ratio of -1.24 and a beta of 1.61. Inovio Pharmaceuticals has a 1-year low of $0.56 and a 1-year high of $2.72. The business has a fifty day moving average price of $1.12 and a 200-day moving average price of $1.18.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.15. As a group, analysts anticipate that Inovio Pharmaceuticals will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Inovio Pharmaceuticals in the second quarter worth about $33,000. Engineers Gate Manager LP purchased a new stake in Inovio Pharmaceuticals in the 2nd quarter worth approximately $37,000. Squarepoint Ops LLC raised its stake in Inovio Pharmaceuticals by 46.5% during the 2nd quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 11,554 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Inovio Pharmaceuticals by 1,929.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 48,948 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 46,536 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Inovio Pharmaceuticals by 16.4% in the first quarter. Renaissance Technologies LLC now owns 643,777 shares of the biopharmaceutical company’s stock worth $1,120,000 after purchasing an additional 90,613 shares during the period. Hedge funds and other institutional investors own 26.79% of the company’s stock.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc (NASDAQ: INO) is a biotechnology company focused on developing DNA medicines, including immunotherapies and vaccines designed to stimulate targeted immune responses. Its technology platform uses synthetic DNA constructs delivered into cells, with the company’s CELLECTRA device platform developed to enhance cellular uptake.

Inovio’s pipeline has included candidates for infectious diseases, cancers and other conditions involving the immune system. Its lead programs have included INO-3107, an investigational DNA immunotherapy being developed for recurrent respiratory papillomatosis, and VGX-3100, an earlier candidate studied for human papillomavirus-related disease.