Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) has received a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $11.50.

A number of research firms recently weighed in on INO. HC Wainwright decreased their target price on Inovio Pharmaceuticals from $12.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Oppenheimer reduced their target price on Inovio Pharmaceuticals from $33.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Royal Bank of Canada reduced their price objective on Inovio Pharmaceuticals from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of Inovio Pharmaceuticals in a report on Friday.

Inovio Pharmaceuticals Price Performance

INO traded down $0.09 during midday trading on Friday, reaching $2.00. The company’s stock had a trading volume of 389,727 shares, compared to its average volume of 1,836,585. The stock’s 50-day moving average is $3.49 and its 200-day moving average is $6.15. Inovio Pharmaceuticals has a 1 year low of $1.74 and a 1 year high of $14.75.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in Inovio Pharmaceuticals by 177.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,681 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 3,630 shares during the period. MetLife Investment Management LLC grew its position in Inovio Pharmaceuticals by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 8,546 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Inovio Pharmaceuticals during the 2nd quarter worth $82,000. American Century Companies Inc. boosted its holdings in shares of Inovio Pharmaceuticals by 62.2% in the second quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 12,100 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Inovio Pharmaceuticals during the third quarter worth about $71,000. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.