Inovio Pharmaceuticals (INO) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Inovio Pharmaceuticals (NASDAQ:INO) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.05, RTT News reports. Inovio Pharmaceuticals had a negative return on equity of 71.53% and a negative net margin of 252.95%. The firm had revenue of $2.00 million during the quarter, compared to the consensus estimate of $2.20 million. During the same period last year, the business posted ($0.39) EPS.
NASDAQ INO traded up $0.10 during mid-day trading on Friday, hitting $5.29. The stock had a trading volume of 1,937,670 shares, compared to its average volume of 902,559. Inovio Pharmaceuticals has a 52-week low of $3.64 and a 52-week high of $6.30. The company has a market capitalization of $478.53 million, a P/E ratio of -4.85 and a beta of 1.88.
In related news, CEO Jong Joseph Kim sold 49,060 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was 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 directly owns 2,357,554 shares of the company’s stock, valued at approximately $12,660,064.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.40% of the company’s stock.
Several research firms recently weighed in on INO. ValuEngine raised Inovio Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. BidaskClub downgraded Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. HC Wainwright set a $13.00 price objective on Inovio Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, Stifel Nicolaus began coverage on Inovio Pharmaceuticals in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $8.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Inovio Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $10.75.
Inovio Pharmaceuticals Company Profile
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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