Inovio Pharmaceuticals (NASDAQ:INO) Price Target Lowered to $5.00 at Royal Bank of Canada

Inovio Pharmaceuticals (NASDAQ:INO) had its price objective trimmed by Royal Bank of Canada from $6.00 to $5.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on INO. HC Wainwright reissued a “neutral” rating and issued a $3.00 price target on shares of Inovio Pharmaceuticals in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $18.00 target price on shares of Inovio Pharmaceuticals in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.20.

Inovio Pharmaceuticals Price Performance

INO stock opened at $1.96 on Wednesday. The firm has a market cap of $51.16 million, a price-to-earnings ratio of -0.93 and a beta of 0.92. Inovio Pharmaceuticals has a 1-year low of $1.74 and a 1-year high of $14.75. The firm has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $3.76.

Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Tuesday, March 18th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.18. The business had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.03 million. As a group, analysts expect that Inovio Pharmaceuticals will post -4.23 EPS for the current fiscal year.

Institutional Trading of Inovio Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Alpine Global Management LLC bought a new position in shares of Inovio Pharmaceuticals in the fourth quarter worth $31,000. BNP Paribas Financial Markets increased 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 valued at $33,000 after buying an additional 3,630 shares during the period. Bank of Montreal Can acquired a new position in Inovio Pharmaceuticals during the 4th quarter valued at about $43,000. Boothbay Fund Management LLC acquired a new stake in shares of Inovio Pharmaceuticals in the 4th quarter worth approximately $44,000. Finally, Barclays PLC boosted its holdings in shares of Inovio Pharmaceuticals by 15.0% in the fourth quarter. Barclays PLC now owns 39,114 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 5,111 shares in the last quarter. Institutional investors own 26.79% 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 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.