HC Wainwright began coverage on shares of Inovio Pharmaceuticals (NASDAQ:INO) in a research report sent to investors on Thursday morning, AnalystRatings.com reports. The firm issued a buy rating on the biopharmaceutical company’s stock.
“We note that ASF is highly contagious and the hemorrhagic viral disease is lethal and incurable in domestic and wild pigs. Within the past year, the ASF virus has spread from Europe to Asia countries, including China, Vietnam and Korea. Specifically, over 1M pigs have been culled and slaughtered in 2018, resulting in substantial economic losses. In our view, this partnership could bring Inovio additional upside in the animal health sector without any financial burden. In the wake of this update, we reiterate our Buy rating and $13 price target.”,” the firm’s analyst wrote.
A number of other equities research analysts have also weighed in on INO. BidaskClub upgraded Inovio Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, May 10th. Zacks Investment Research upgraded Inovio Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, March 15th. Finally, Maxim Group restated a buy rating and set a $8.00 price objective on shares of Inovio Pharmaceuticals in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $7.57.
Shares of NASDAQ:INO traded down $0.07 during mid-day trading on Thursday, hitting $3.35. 22,627 shares of the company traded hands, compared to its average volume of 835,415. The company has a market cap of $342.14 million, a P/E ratio of -3.20 and a beta of 1.70. The company has a debt-to-equity ratio of 1.02, a quick ratio of 4.92 and a current ratio of 4.92. Inovio Pharmaceuticals has a 52-week low of $3.02 and a 52-week high of $6.30.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.01). The company had revenue of $2.83 million for the quarter, compared to analysts’ expectations of $4.44 million. Inovio Pharmaceuticals had a negative net margin of 295.24% and a negative return on equity of 97.95%. Analysts predict that Inovio Pharmaceuticals will post -1 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Nikko Asset Management Americas Inc. acquired a new position in shares of Inovio Pharmaceuticals in the 1st quarter worth approximately $12,169,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Inovio Pharmaceuticals in the 1st quarter worth approximately $11,896,000. ARK Investment Management LLC grew its position in shares of Inovio Pharmaceuticals by 55.4% in the 1st quarter. ARK Investment Management LLC now owns 2,929,597 shares of the biopharmaceutical company’s stock worth $10,927,000 after acquiring an additional 1,043,956 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Inovio Pharmaceuticals by 125.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,073,086 shares of the biopharmaceutical company’s stock worth $4,292,000 after acquiring an additional 596,684 shares in the last quarter. Finally, Defender Capital LLC. acquired a new position in shares of Inovio Pharmaceuticals in the 4th quarter worth approximately $2,324,000. Hedge funds and other institutional investors own 40.50% of the company’s stock.
About Inovio Pharmaceuticals
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.
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