JPMorgan Chase – Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Receives Consensus Recommendation of “Hold” from Analysts
Inovio Pharmaceuticals, Inc. (NASDAQ:INO) has received a consensus rating of “Hold” from the ten analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.86.
Several research analysts recently issued reports on the company. Piper Sandler cut their price objective on Inovio Pharmaceuticals from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Monday, May 10th. Oppenheimer restated a “buy” rating on shares of Inovio Pharmaceuticals in a research report on Friday, April 16th. Bank of America assumed coverage on Inovio Pharmaceuticals in a research report on Tuesday, March 23rd. They set a “neutral” rating and a $13.00 price objective for the company. HC Wainwright restated a “hold” rating on shares of Inovio Pharmaceuticals in a research report on Friday, April 16th. Finally, Zacks Investment Research downgraded Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, May 13th.
INO traded down $0.05 during trading on Friday, reaching $9.10. The company’s stock had a trading volume of 3,751,529 shares, compared to its average volume of 12,260,720. The firm has a fifty day moving average of $7.73. Inovio Pharmaceuticals has a 52-week low of $5.81 and a 52-week high of $33.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.17 and a quick ratio of 14.17. The company has a market capitalization of $1.91 billion, a P/E ratio of -8.05 and a beta of 0.66.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings results on Monday, May 10th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.09). Inovio Pharmaceuticals had a negative net margin of 2,916.64% and a negative return on equity of 39.16%. The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $1.06 million. The company’s revenue for the quarter was down 69.2% on a year-over-year basis. As a group, research analysts anticipate that Inovio Pharmaceuticals will post -1.07 EPS for the current year.
In other Inovio Pharmaceuticals news, Director David B. Weiner sold 26,583 shares of the business’s stock in a transaction on Wednesday, April 21st. The shares were sold at an average price of $8.57, for a total value of $227,816.31. Following the transaction, the director now owns 877,719 shares in the company, valued at approximately $7,522,051.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jacqueline Elizabeth Shea sold 4,710 shares of the business’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $8.97, for a total transaction of $42,248.70. Following the completion of the transaction, the chief operating officer now owns 72,084 shares in the company, valued at approximately $646,593.48. The disclosure for this sale can be found here. Insiders have sold a total of 139,941 shares of company stock valued at $1,304,580 over the last three months. Corporate insiders own 2.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Inovio Pharmaceuticals by 23.0% in the 1st quarter. BlackRock Inc. now owns 17,515,053 shares of the biopharmaceutical company’s stock valued at $162,541,000 after purchasing an additional 3,272,112 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Inovio Pharmaceuticals by 31.6% in the 1st quarter. Geode Capital Management LLC now owns 3,320,869 shares of the biopharmaceutical company’s stock valued at $30,817,000 after purchasing an additional 796,466 shares in the last quarter. Northern Trust Corp raised its stake in shares of Inovio Pharmaceuticals by 11.2% in the 1st quarter. Northern Trust Corp now owns 2,117,295 shares of the biopharmaceutical company’s stock valued at $19,648,000 after purchasing an additional 213,599 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Inovio Pharmaceuticals by 33.3% in the 1st quarter. Nuveen Asset Management LLC now owns 1,765,672 shares of the biopharmaceutical company’s stock valued at $16,386,000 after purchasing an additional 440,987 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Inovio Pharmaceuticals by 44.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,579,573 shares of the biopharmaceutical company’s stock valued at $14,658,000 after purchasing an additional 482,924 shares in the last quarter. Institutional investors and hedge funds own 35.18% of the company’s stock.
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 optimized plasmids that have ability to help break the immune system’s tolerance of cancerous or infected cells and facilitate cross-strain protection against unmatched and matched pathogen variants.
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