Inovio Pharmaceuticals (NASDAQ:INO) Price Target Lowered to $7.00 at Royal Bank of Canada

Inovio Pharmaceuticals (NASDAQ:INO) had its target price trimmed by Royal Bank of Canada from $8.00 to $7.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a sector perform rating on the biopharmaceutical company’s stock.

INO has been the topic of a number of other reports. Oppenheimer cut their price objective on shares of Inovio Pharmaceuticals from $40.00 to $33.00 and set an outperform rating on the stock in a report on Monday, August 12th. HC Wainwright reiterated a neutral rating and issued a $15.00 price objective on shares of Inovio Pharmaceuticals in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $43.80.

Inovio Pharmaceuticals Price Performance

Shares of Inovio Pharmaceuticals stock opened at $5.55 on Friday. Inovio Pharmaceuticals has a one year low of $3.89 and a one year high of $14.75. The business has a 50-day simple moving average of $7.30 and a 200 day simple moving average of $9.41. The firm has a market capitalization of $143.81 million, a price-to-earnings ratio of -1.51 and a beta of 0.82.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.09). Inovio Pharmaceuticals had a negative net margin of 16,238.91% and a negative return on equity of 99.51%. The business had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.10 million. During the same quarter in the prior year, the business earned ($1.56) earnings per share. On average, sell-side analysts expect that Inovio Pharmaceuticals will post -4.64 EPS for the current year.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in shares of Inovio Pharmaceuticals during the 2nd quarter valued at $82,000. Signature Estate & Investment Advisors LLC bought a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at about $88,000. SG Americas Securities LLC purchased a new stake in Inovio Pharmaceuticals during the third quarter valued at about $71,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Inovio Pharmaceuticals in the second quarter worth about $184,000. Finally, American Century Companies Inc. raised its position 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 purchasing an additional 12,100 shares during the period. Hedge funds and other 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.