Inovio Pharmaceuticals’ (INO) “Buy” Rating Reaffirmed at Citigroup

Share on StockTwits

Citigroup reissued their buy rating on shares of Inovio Pharmaceuticals (NASDAQ:INO) in a report released on Monday morning, The Fly reports. Citigroup currently has a $4.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $7.00.

Several other equities analysts also recently weighed in on the company. Piper Jaffray Companies reduced their target price on Inovio Pharmaceuticals from $12.00 to $10.00 and set an overweight rating on the stock in a research report on Wednesday, July 17th. ValuEngine upgraded Inovio Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. Maxim Group reiterated a buy rating and set a $6.00 target price on shares of Inovio Pharmaceuticals in a research report on Sunday, August 11th. HC Wainwright reiterated a buy rating and set a $13.00 target price on shares of Inovio Pharmaceuticals in a research report on Tuesday, June 11th. Finally, Zacks Investment Research downgraded Inovio Pharmaceuticals from a buy rating to a hold rating and set a $3.50 target price on the stock. in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $6.87.

INO opened at $2.43 on Monday. The business’s fifty day simple moving average is $2.37 and its 200 day simple moving average is $3.05. Inovio Pharmaceuticals has a 52 week low of $2.03 and a 52 week high of $6.30. The firm has a market cap of $247.58 million, a P/E ratio of -2.31 and a beta of 2.08. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 1.49.

Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.02). Inovio Pharmaceuticals had a negative return on equity of 142.10% and a negative net margin of 1,560.70%. The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $4.69 million. During the same quarter last year, the company posted ($0.07) earnings per share. As a group, equities analysts expect that Inovio Pharmaceuticals will post -1.06 EPS for the current fiscal year.

In related news, Director David B. Weiner sold 16,352 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $2.72, for a total transaction of $44,477.44. Following the transaction, the director now directly owns 797,110 shares in the company, valued at $2,168,139.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Inovio Pharmaceuticals by 4.5% in the 2nd quarter. BlackRock Inc. now owns 7,708,829 shares of the biopharmaceutical company’s stock worth $22,665,000 after purchasing an additional 335,356 shares during the period. Wasatch Advisors Inc. raised its holdings in shares of Inovio Pharmaceuticals by 15.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 6,735,726 shares of the biopharmaceutical company’s stock worth $19,803,000 after purchasing an additional 887,316 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in shares of Inovio Pharmaceuticals by 49.7% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 4,884,100 shares of the biopharmaceutical company’s stock worth $14,359,000 after purchasing an additional 1,621,581 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Inovio Pharmaceuticals by 53.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,884,100 shares of the biopharmaceutical company’s stock worth $14,359,000 after purchasing an additional 1,694,891 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Inovio Pharmaceuticals by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,860,200 shares of the biopharmaceutical company’s stock worth $14,289,000 after purchasing an additional 35,018 shares during the period. Institutional investors own 46.18% of the company’s stock.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of DNA-based 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.

Featured Article: How prevalent are 12b-1 fees?

The Fly

Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

Receive News & Ratings for Inovio Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovio Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.