Maxim Group reaffirmed their buy rating on shares of Inovio Pharmaceuticals (NASDAQ:INO) in a research report released on Sunday morning, AnalystRatings.com reports. Maxim Group currently has a $6.00 price target on the biopharmaceutical company’s stock.
Other analysts also recently issued research reports about the company. BidaskClub downgraded Inovio Pharmaceuticals from a sell rating to a strong sell rating in a research report on Saturday, June 1st. ValuEngine upgraded Inovio Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research cut Inovio Pharmaceuticals from a buy rating to a hold rating and set a $3.50 target price for the company. in a report on Tuesday, May 28th. HC Wainwright reissued a buy rating and issued a $13.00 target price on shares of Inovio Pharmaceuticals in a report on Tuesday, June 11th. Finally, Piper Jaffray Companies dropped their target price on Inovio Pharmaceuticals from $12.00 to $10.00 and set an overweight rating for the company in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $7.35.
Shares of INO stock opened at $2.37 on Friday. The stock has a 50 day moving average price of $2.80. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.92 and a quick ratio of 4.92. Inovio Pharmaceuticals has a 12 month low of $2.15 and a 12 month high of $6.30. The company has a market cap of $244.10 million, a P/E ratio of -2.26 and a beta of 2.03.
In other news, CEO Jong Joseph Kim sold 2,129,553 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $2.36, for a total value of $5,025,745.08. Following the completion of the transaction, the chief executive officer now directly owns 1,911,055 shares of the company’s stock, valued at approximately $4,510,089.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Laurent Humeau bought 20,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was bought at an average cost of $2.50 per share, with a total value of $50,000.00. Following the completion of the acquisition, the insider now owns 45,833 shares in the company, valued at approximately $114,582.50. The disclosure for this purchase can be found here. Over the last three months, insiders sold 2,882,673 shares of company stock valued at $7,099,911. 7.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Inovio Pharmaceuticals during the 1st quarter valued at $40,000. Amalgamated Bank acquired a new stake in Inovio Pharmaceuticals during the 4th quarter valued at $50,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Inovio Pharmaceuticals during the 2nd quarter valued at $40,000. M Holdings Securities Inc. acquired a new stake in Inovio Pharmaceuticals during the 1st quarter valued at $54,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in Inovio Pharmaceuticals during the 2nd quarter valued at $50,000. 51.72% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Story: What is the Russell 2000 Index?
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.