HC Wainwright Begins Coverage on Inovio Pharmaceuticals (INO)
HC Wainwright began coverage on shares of Inovio Pharmaceuticals (NASDAQ:INO) in a research report report published on Wednesday morning. The firm issued a buy rating and a $13.00 price target on the biopharmaceutical company’s stock.
“Our 12-month price target is derived from a market value of the firm at $1.4B, which includes a discounted cash flow based asset value for 15% discount rate, 2% terminal growth rate and 80% probability of success.”,” HC Wainwright’s analyst wrote.
Several other analysts also recently weighed in on the company. Maxim Group set a $8.00 target price on Inovio Pharmaceuticals and gave the company a buy rating in a research note on Monday, November 26th. BidaskClub upgraded Inovio Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, November 23rd. ValuEngine upgraded Inovio Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, November 21st. Finally, Stifel Nicolaus started coverage on Inovio Pharmaceuticals in a research note on Tuesday, October 2nd. They issued a buy rating and a $8.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Inovio Pharmaceuticals presently has a consensus rating of Buy and an average price target of $10.75.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.05. The company had revenue of $2.00 million during the quarter, compared to the consensus estimate of $2.20 million. Inovio Pharmaceuticals had a negative return on equity of 72.66% and a negative net margin of 232.58%. During the same period last year, the firm earned ($0.39) earnings per share. As a group, sell-side analysts expect that Inovio Pharmaceuticals will post -1 earnings per share for the current year.
In other Inovio Pharmaceuticals news, CFO Peter Kies sold 10,001 shares of Inovio Pharmaceuticals stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $5.28, for a total value of $52,805.28. Following the completion of the transaction, the chief financial officer now directly owns 72,089 shares in the company, valued at $380,629.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jong Joseph Kim sold 49,060 shares of Inovio Pharmaceuticals stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $5.37, for a total value of $263,452.20. Following the completion of the transaction, the chief executive officer now owns 2,357,554 shares of the company’s stock, valued at $12,660,064.98. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Inovio Pharmaceuticals by 1.7% in the third quarter. BlackRock Inc. now owns 6,959,341 shares of the biopharmaceutical company’s stock valued at $38,696,000 after acquiring an additional 114,003 shares during the period. Wasatch Advisors Inc. boosted its stake in Inovio Pharmaceuticals by 74.1% in the third quarter. Wasatch Advisors Inc. now owns 4,767,879 shares of the biopharmaceutical company’s stock valued at $26,509,000 after acquiring an additional 2,029,689 shares during the period. Vanguard Group Inc. boosted its stake in Inovio Pharmaceuticals by 4.5% in the third quarter. Vanguard Group Inc. now owns 4,243,379 shares of the biopharmaceutical company’s stock valued at $23,593,000 after acquiring an additional 184,457 shares during the period. ARK Investment Management LLC boosted its stake in Inovio Pharmaceuticals by 60.5% in the third quarter. ARK Investment Management LLC now owns 1,917,071 shares of the biopharmaceutical company’s stock valued at $10,659,000 after acquiring an additional 722,414 shares during the period. Finally, Northern Trust Corp boosted its stake in Inovio Pharmaceuticals by 3.4% in the second quarter. Northern Trust Corp now owns 1,026,797 shares of the biopharmaceutical company’s stock valued at $4,026,000 after acquiring an additional 33,555 shares during the period. Institutional investors own 34.12% 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.
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