Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Downgraded to “Sell” at BidaskClub
BidaskClub downgraded shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) from a hold rating to a sell rating in a research report released on Friday.
INO has been the topic of several other reports. Zacks Investment Research upgraded shares of Inovio Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, May 15th. Stifel Nicolaus reiterated a buy rating and set a $11.00 target price on shares of Inovio Pharmaceuticals in a research report on Tuesday, April 25th. BNP Paribas reiterated a neutral rating and set a $39.00 target price on shares of Inovio Pharmaceuticals in a research report on Monday, May 1st. HC Wainwright set a $13.00 target price on shares of Inovio Pharmaceuticals and gave the stock a buy rating in a research report on Friday, July 7th. Finally, Aegis lifted their target price on shares of Inovio Pharmaceuticals from $11.00 to $14.00 and gave the stock a buy rating in a research report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $19.90.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) traded down 2.608% during trading on Friday, reaching $5.415. 859,410 shares of the company traded hands. Inovio Pharmaceuticals has a 12-month low of $5.39 and a 12-month high of $11.00. The firm’s market capitalization is $404.11 million. The company has a 50 day moving average price of $7.45 and a 200 day moving average price of $6.88.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.31) EPS for the quarter, hitting the consensus estimate of ($0.31). Inovio Pharmaceuticals had a negative net margin of 235.91% and a negative return on equity of 65.97%. The business had revenue of $10.40 million for the quarter, compared to the consensus estimate of $5.83 million. During the same period last year, the company earned ($0.11) EPS. The firm’s revenue was up 28.4% compared to the same quarter last year. On average, equities analysts predict that Inovio Pharmaceuticals will post ($1.09) EPS for the current year.
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In other news, Director David B. Weiner sold 8,000 shares of Inovio Pharmaceuticals stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $8.00, for a total value of $64,000.00. Following the completion of the sale, the director now owns 740,956 shares in the company, valued at approximately $5,927,648. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Inovio Pharmaceuticals during the fourth quarter worth approximately $559,000. Wells Fargo & Company MN raised its stake in Inovio Pharmaceuticals by 28.9% in the first quarter. Wells Fargo & Company MN now owns 124,565 shares of the biopharmaceutical company’s stock valued at $825,000 after buying an additional 27,898 shares during the last quarter. Stoneridge Investment Partners LLC raised its stake in Inovio Pharmaceuticals by 0.8% in the first quarter. Stoneridge Investment Partners LLC now owns 254,449 shares of the biopharmaceutical company’s stock valued at $1,684,000 after buying an additional 2,073 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Inovio Pharmaceuticals by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 342,348 shares of the biopharmaceutical company’s stock valued at $2,266,000 after buying an additional 11,765 shares during the last quarter. Finally, American International Group Inc. raised its stake in Inovio Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 40,856 shares of the biopharmaceutical company’s stock valued at $270,000 after buying an additional 2,695 shares during the last quarter. Institutional investors and hedge funds own 22.90% 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.
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