Inovio Pharmaceuticals, Inc. (INO) Receives New Coverage from Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in a research report sent to investors on Wednesday morning. The brokerage issued an outperform rating and a $11.00 target price on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on INO. HC Wainwright restated a buy rating and issued a $13.00 target price on shares of Inovio Pharmaceuticals in a research report on Tuesday, September 12th. BidaskClub upgraded Inovio Pharmaceuticals from a sell rating to a hold rating in a research report on Saturday, September 9th. Zacks Investment Research upgraded Inovio Pharmaceuticals from a hold rating to a buy rating and set a $8.75 price objective for the company in a research report on Tuesday, July 11th. Maxim Group set a $12.00 price objective on Inovio Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, August 9th. Finally, Aegis reiterated a buy rating and issued a $14.00 price objective on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $19.16.

Inovio Pharmaceuticals (INO) traded down 1.11% on Wednesday, hitting $6.25. The stock had a trading volume of 938,713 shares. Inovio Pharmaceuticals has a 1-year low of $5.28 and a 1-year high of $9.86. The company has a 50-day moving average price of $6.20 and a 200-day moving average price of $6.64. The stock’s market capitalization is $563.92 million.

Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.08. The company had revenue of $20.41 million during the quarter, compared to the consensus estimate of $16.29 million. Inovio Pharmaceuticals had a negative return on equity of 63.67% and a negative net margin of 153.46%. Inovio Pharmaceuticals’s quarterly revenue was up 229.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) EPS. Equities analysts predict that Inovio Pharmaceuticals will post ($0.95) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Inovio Pharmaceuticals by 4.2% in the second quarter. Vanguard Group Inc. now owns 3,227,219 shares of the biopharmaceutical company’s stock worth $25,301,000 after acquiring an additional 129,164 shares during the last quarter. Wasatch Advisors Inc. grew its stake in shares of Inovio Pharmaceuticals by 43.6% in the second quarter. Wasatch Advisors Inc. now owns 2,610,818 shares of the biopharmaceutical company’s stock worth $20,469,000 after acquiring an additional 793,306 shares during the last quarter. Northern Trust Corp grew its stake in shares of Inovio Pharmaceuticals by 2.8% in the second quarter. Northern Trust Corp now owns 896,472 shares of the biopharmaceutical company’s stock worth $7,028,000 after acquiring an additional 24,366 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Inovio Pharmaceuticals by 12.5% in the first quarter. Geode Capital Management LLC now owns 560,164 shares of the biopharmaceutical company’s stock worth $3,708,000 after acquiring an additional 62,045 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Inovio Pharmaceuticals by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 342,348 shares of the biopharmaceutical company’s stock worth $2,266,000 after acquiring an additional 11,765 shares during the last quarter. 24.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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