BidaskClub upgraded shares of Inovio Pharmaceuticals (NASDAQ:INO) from a sell rating to a hold rating in a research note released on Saturday morning.
A number of other brokerages also recently issued reports on INO. ValuEngine upgraded shares of Inovio Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, May 11th. HC Wainwright set a $13.00 price objective on shares of Inovio Pharmaceuticals and gave the company a buy rating in a research note on Thursday, May 10th. Royal Bank of Canada lifted their price objective on shares of Inovio Pharmaceuticals from $11.00 to $14.00 and gave the company an outperform rating in a research note on Thursday, March 15th. Zacks Investment Research upgraded shares of Inovio Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, July 3rd. Finally, Maxim Group set a $8.00 price objective on shares of Inovio Pharmaceuticals and gave the company a buy rating in a research note on Thursday, March 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Inovio Pharmaceuticals has a consensus rating of Buy and a consensus price target of $11.29.
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Shares of NASDAQ INO opened at $4.46 on Friday. The company has a market capitalization of $401.14 million, a PE ratio of -4.09 and a beta of 2.64. Inovio Pharmaceuticals has a 52-week low of $3.64 and a 52-week high of $8.10.
Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.22). The firm had revenue of $1.53 million during the quarter, compared to analyst estimates of $7.50 million. Inovio Pharmaceuticals had a negative return on equity of 72.04% and a negative net margin of 292.06%. During the same quarter last year, the firm posted ($0.31) EPS. equities research analysts forecast that Inovio Pharmaceuticals will post -1.34 earnings per share for the current fiscal year.
In other news, CEO Jong Joseph Kim sold 103,750 shares of Inovio Pharmaceuticals stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $5.14, for a total value of $533,275.00. Following the completion of the sale, the chief executive officer now owns 2,395,557 shares in the company, valued at approximately $12,313,162.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Weiner sold 9,000 shares of the business’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $4.91, for a total transaction of $44,190.00. Following the sale, the director now owns 758,956 shares of the company’s stock, valued at approximately $3,726,473.96. The disclosure for this sale can be found here. Insiders sold a total of 116,500 shares of company stock valued at $597,078 in the last quarter. 9.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in INO. Teacher Retirement System of Texas bought a new stake in Inovio Pharmaceuticals during the 4th quarter valued at $120,000. MetLife Investment Advisors LLC bought a new stake in Inovio Pharmaceuticals during the 4th quarter valued at $150,000. Tocqueville Asset Management L.P. bought a new stake in Inovio Pharmaceuticals during the 4th quarter valued at $218,000. Teachers Advisors LLC increased its stake in Inovio Pharmaceuticals by 11.2% during the 4th quarter. Teachers Advisors LLC now owns 159,972 shares of the biopharmaceutical company’s stock valued at $661,000 after purchasing an additional 16,104 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Inovio Pharmaceuticals by 14.3% during the 1st quarter. New York State Common Retirement Fund now owns 146,243 shares of the biopharmaceutical company’s stock valued at $689,000 after purchasing an additional 18,300 shares in the last quarter. Institutional investors and hedge funds own 32.81% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops active DNA immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.