According to Zacks, “Inovio got a boost with the initiation of the second study on its preventive Zika vaccine, GLS-5700, in Puerto Rico. The first study on the Zika vaccine is already underway in the U.S. and Canada. Meanwhile, we are positive on the company’s progress with its lead cancer candidate, VGX-3100, which is expected to move into a late-stage study later this year. Further, we are pleased with the company’s collaborations with other companies and institutes for pipeline development. However, Inovio depends largely on government grants and contracts for the development of its candidates. Inability to secure sufficient funding could hinder pipeline progress. Termination of the agreement with Roche for INO-1800 is also concerning. Moreover, most of Inovio’s pipeline candidates are in early stages of development and thus, quite a few years away from entering the market, if at all.”
INO has been the topic of several other reports. HC Wainwright initiated coverage on shares of Inovio Pharmaceuticals in a research note on Monday, August 29th. They set a buy rating and a $17.00 target price on the stock. 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. Piper Jaffray Cos. reaffirmed an overweight rating and set a $31.00 target price on shares of Inovio Pharmaceuticals in a research note on Monday, July 18th. Stifel Nicolaus reaffirmed a buy rating and set a $13.00 target price on shares of Inovio Pharmaceuticals in a research note on Sunday, July 17th. Finally, Maxim Group reaffirmed a hold rating on shares of Inovio Pharmaceuticals in a research note on Thursday, August 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Inovio Pharmaceuticals currently has an average rating of Buy and a consensus price target of $16.39.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) traded up 2.01% on Monday, hitting $9.63. 213,864 shares of the company traded hands. Inovio Pharmaceuticals has a 12 month low of $4.50 and a 12 month high of $11.69. The stock’s 50-day moving average price is $9.09 and its 200-day moving average price is $9.45. The company’s market capitalization is $708.27 million.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.05. Inovio Pharmaceuticals had a negative return on equity of 22.29% and a negative net margin of 88.19%. The business had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $4.95 million. During the same period in the previous year, the company earned ($0.09) earnings per share. Inovio Pharmaceuticals’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities 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 company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $9.30, for a total value of $202,740.00. Following the completion of the transaction, the chief operating officer now owns 70,234 shares in the company, valued at approximately $653,176.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 9.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its stake in shares of Inovio Pharmaceuticals by 172.4% in the second quarter. GSA Capital Partners LLP now owns 69,200 shares of the biopharmaceutical company’s stock worth $639,000 after buying an additional 43,800 shares in the last quarter. Bellevue Group AG acquired a new stake in shares of Inovio Pharmaceuticals during the first quarter worth $2,308,000. Geode Capital Management LLC boosted its stake in shares of Inovio Pharmaceuticals by 10.3% in the first quarter. Geode Capital Management LLC now owns 481,434 shares of the biopharmaceutical company’s stock worth $4,193,000 after buying an additional 44,923 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Inovio Pharmaceuticals by 10.0% in the first quarter. Legal & General Group Plc now owns 13,204 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 1,205 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Inovio Pharmaceuticals by 13.0% in the second quarter. Janney Montgomery Scott LLC now owns 15,250 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 1,750 shares in the last quarter. Institutional investors and hedge funds 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Inovio Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovio Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.