Inovio Pharmaceuticals (NASDAQ:INO) Downgraded by BidaskClub

BidaskClub lowered shares of Inovio Pharmaceuticals (NASDAQ:INO) from a strong-buy rating to a buy rating in a research note released on Wednesday, BidAskClub reports.

Several other analysts also recently weighed in on INO. Cantor Fitzgerald lifted their target price on shares of Inovio Pharmaceuticals from $13.00 to $17.00 and gave the company an overweight rating in a report on Wednesday, April 29th. Royal Bank of Canada cut Inovio Pharmaceuticals to a hold rating in a research report on Monday, April 6th. Stifel Nicolaus cut Inovio Pharmaceuticals from a buy rating to a hold rating and raised their price target for the company from $19.00 to $24.00 in a report on Friday, June 26th. Benchmark restated a buy rating on shares of Inovio Pharmaceuticals in a research note on Tuesday, June 30th. Finally, HC Wainwright cut Inovio Pharmaceuticals from a buy rating to a neutral rating in a research report on Monday, June 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $13.33.

Shares of INO stock opened at $19.44 on Wednesday. The company has a market capitalization of $3.07 billion, a P/E ratio of -16.34 and a beta of 1.47. The company has a current ratio of 8.53, a quick ratio of 8.53 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $21.82 and its two-hundred day moving average is $11.64. Inovio Pharmaceuticals has a twelve month low of $1.91 and a twelve month high of $33.79.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.04). The company had revenue of $1.33 million for the quarter, compared to analyst estimates of $1.55 million. Inovio Pharmaceuticals had a negative return on equity of 166.85% and a negative net margin of 4,700.42%. During the same period in the prior year, the business earned ($0.30) earnings per share. As a group, equities analysts predict that Inovio Pharmaceuticals will post -0.77 earnings per share for the current fiscal year.

In related news, Director David B. Weiner sold 2,404 shares of Inovio Pharmaceuticals stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $11.84, for a total transaction of $28,463.36. Following the completion of the transaction, the director now directly owns 827,219 shares in the company, valued at approximately $9,794,272.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jong Joseph Kim sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $21.13, for a total value of $2,113,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,188,313 shares in the company, valued at approximately $25,109,053.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,871 shares of company stock valued at $4,228,378. Company insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. National Asset Management Inc. acquired a new position in shares of Inovio Pharmaceuticals in the second quarter valued at approximately $361,000. UBS Group AG boosted its position in Inovio Pharmaceuticals by 53.3% during the second quarter. UBS Group AG now owns 50,823 shares of the biopharmaceutical company’s stock worth $1,370,000 after acquiring an additional 17,673 shares during the last quarter. Mackay Shields LLC purchased a new stake in Inovio Pharmaceuticals in the 2nd quarter worth approximately $1,980,000. Cowen Prime Services LLC acquired a new position in Inovio Pharmaceuticals in the 2nd quarter valued at $27,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Inovio Pharmaceuticals during the 2nd quarter worth $200,000. 27.80% of the stock is currently owned by institutional investors and hedge funds.

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.

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