Citigroup Inc. started coverage on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a research report issued to clients and investors on Friday. The firm set a “buy” rating and a $10.00 price target on the biopharmaceutical company’s stock. Citigroup Inc.’s price target suggests a potential upside of 49.70% from the company’s previous close.

Several other research analysts have also weighed in on INO. Maxim Group set a $12.00 price objective on shares of Inovio Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. 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 Wednesday, August 9th. ValuEngine upgraded shares of Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. BidaskClub downgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Aegis restated a “buy” rating and issued a $14.00 price target on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.98.

Shares of Inovio Pharmaceuticals (NASDAQ INO) opened at 6.68 on Friday. The company has a 50-day moving average of $6.01 and a 200-day moving average of $6.63. The stock’s market capitalization is $602.72 million. Inovio Pharmaceuticals has a 12 month low of $5.28 and a 12 month high of $9.86.

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 Thomson Reuters’ consensus estimate of ($0.21) by $0.08. The company had revenue of $20.41 million during the quarter, compared to analyst estimates of $16.29 million. Inovio Pharmaceuticals had a negative net margin of 153.46% and a negative return on equity of 63.67%. The firm’s revenue for the quarter was up 229.2% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. On average, equities research analysts expect that Inovio Pharmaceuticals will post ($0.92) EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its position in Inovio Pharmaceuticals by 0.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 25,710 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 92 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Inovio Pharmaceuticals by 1.7% in 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 last quarter. PNC Financial Services Group Inc. lifted its position in Inovio Pharmaceuticals by 5.0% in 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 last quarter. American International Group Inc. lifted its position in Inovio Pharmaceuticals by 7.1% in 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 last quarter. Finally, Teachers Advisors LLC lifted its position in Inovio Pharmaceuticals by 2.3% in 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 last quarter. Hedge funds and other institutional investors own 24.83% of the company’s stock.

About Inovio Pharmaceuticals

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.

Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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