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

Inovio Pharmaceuticals (NASDAQ:INO) had its target price reduced by Royal Bank of Canada from $6.00 to $5.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 157.73% from the stock’s current price.

Several other analysts have also recently commented on INO. HC Wainwright restated a “neutral” rating and issued a $3.00 target price on shares of Inovio Pharmaceuticals in a research note on Wednesday. JMP Securities restated 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.20.

Inovio Pharmaceuticals Price Performance

Shares of NASDAQ:INO opened at $1.94 on Wednesday. The stock has a market cap of $50.63 million, a P/E ratio of -0.92 and a beta of 0.92. The firm has a fifty day moving average price of $2.04 and a 200 day moving average price of $3.74. Inovio Pharmaceuticals has a 1-year low of $1.74 and a 1-year high of $14.75.

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

Hedge Funds Weigh In On Inovio Pharmaceuticals

A number of large investors have recently made changes to their positions in INO. Alpine Global Management LLC purchased a new position in shares of Inovio Pharmaceuticals in the 4th quarter valued at about $31,000. BNP Paribas Financial Markets increased its holdings 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 acquiring an additional 3,630 shares in the last quarter. Bank of Montreal Can purchased a new position in Inovio Pharmaceuticals during the 4th quarter valued at about $43,000. Boothbay Fund Management LLC purchased a new position in Inovio Pharmaceuticals during the 4th quarter valued at about $44,000. Finally, Barclays PLC increased its holdings in Inovio Pharmaceuticals by 15.0% during the 4th 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. Hedge funds and other institutional investors own 26.79% of the company’s stock.

Inovio Pharmaceuticals Company Profile

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.