Brean Capital began coverage on shares of Inovio Pharmaceuticals Inc. (NASDAQ:INO) in a research report issued on Tuesday, StockTargetPrices.com reports. The brokerage set a “buy” rating and a $18.00 price target on the biopharmaceutical company’s stock. Brean Capital’s target price points to a potential upside of 88.88% from the company’s previous close.
INO has been the topic of a number of other research reports. Zacks Investment Research raised shares of Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Maxim Group reaffirmed a “hold” rating on shares of Inovio Pharmaceuticals in a research note on Thursday, August 18th. Rodman & Renshaw reaffirmed a “buy” rating and set a $17.00 target price on shares of Inovio Pharmaceuticals in a research note on Tuesday, June 21st. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Inovio Pharmaceuticals in a research note on Saturday, August 13th. Finally, Vetr cut shares of Inovio Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $11.11 target price on the stock. in a research note on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.39.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) opened at 9.52 on Tuesday. The company’s market cap is $700.18 million. The firm’s 50-day moving average is $9.15 and its 200-day moving average is $9.55. Inovio Pharmaceuticals has a 12 month low of $4.50 and a 12 month high of $11.69.
Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.05. Inovio Pharmaceuticals had a negative net margin of 88.19% and a negative return on equity of 22.29%. The company earned $6.20 million during the quarter, compared to analyst estimates of $4.95 million. During the same period in the prior year, the business posted ($0.09) EPS. Inovio Pharmaceuticals’s revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that Inovio Pharmaceuticals will post ($0.93) earnings per share for the current year.
In other news, COO Niranjan Sardesai sold 21,800 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $9.30, for a total transaction of $202,740.00. Following the transaction, the chief operating officer now owns 70,234 shares of the company’s stock, valued at approximately $653,176.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 9.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Inovio Pharmaceuticals by 20.9% in the second quarter. State Street Corp now owns 2,506,096 shares of the biopharmaceutical company’s stock valued at $23,157,000 after buying an additional 433,867 shares during the period. Bellevue Group AG acquired a new stake in shares of Inovio Pharmaceuticals during the first quarter worth about $2,308,000. Emerald Acquisition Ltd. acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter worth about $2,181,000. AXA acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter worth about $1,512,000. Finally, Allianz Asset Management AG acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter worth about $1,261,000. Hedge funds and other institutional investors own 28.58% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a bio-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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