Inovio Pharmaceuticals, Inc. (NASDAQ:INO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Inovio reported wider-than-expected loss in the third quarter of 2017 with revenue missing estimates. As the company has no approved product in its portfolio, its excessive dependence on its partners for funding the development of its pipeline candidates is concerning. Moreover, due to early/mid-stage nature of its pipeline, the candidates are several steps away from entering the market. Meanwhile highly lucrative immuno-oncology market has been the focus area of several big pharma giants which may pose intense competition to the candidates once approved. Shares of the company have underperformed the industry so far this year. However, we are positive on the company’s collaboration with big pharma companies like Regeneron, AstraZeneca, and the University of Pennsylvania, as it lends Inovio with their expertise. Moreover, the company’s progress with its lead pipeline candidate, VGX-3100, for treatment of cervical dysplasia is encouraging.”
Other equities research analysts also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Inovio Pharmaceuticals in a research note on Thursday, November 9th. Maxim Group reiterated a “buy” rating and set a $12.00 price target on shares of Inovio Pharmaceuticals in a research note on Tuesday, September 12th. ValuEngine downgraded shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. Finally, BidaskClub upgraded shares of Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 9th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.16.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) opened at $4.31 on Monday. Inovio Pharmaceuticals has a 52 week low of $4.20 and a 52 week high of $9.86.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.15). Inovio Pharmaceuticals had a negative return on equity of 72.19% and a negative net margin of 221.55%. The business had revenue of $2.60 million for the quarter, compared to analyst estimates of $10.27 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The firm’s quarterly revenue was down 79.2% on a year-over-year basis. equities research analysts anticipate that Inovio Pharmaceuticals will post -1.08 earnings per share for the current year.
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Several large investors have recently modified their holdings of INO. Virginia Retirement Systems ET AL acquired a new stake in shares of Inovio Pharmaceuticals in the 3rd quarter valued at $101,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter valued at $107,000. Engineers Gate Manager LP bought a new position in shares of Inovio Pharmaceuticals in the third quarter valued at about $117,000. Emerald Advisers Inc. PA raised its holdings in shares of Inovio Pharmaceuticals by 84.0% in the third quarter. Emerald Advisers Inc. PA now owns 20,323 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 9,280 shares during the last quarter. Finally, First Interstate Bank raised its holdings in shares of Inovio Pharmaceuticals by 291.9% in the third quarter. First Interstate Bank now owns 24,300 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 18,100 shares during the last quarter. Institutional investors own 24.98% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a clinical-stage 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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