HC Wainwright Cuts Inovio Pharmaceuticals (NASDAQ:INO) Price Target to $3.00

Inovio Pharmaceuticals (NASDAQ:INO) had its price objective dropped by HC Wainwright from $5.00 to $3.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 51.52% from the company’s previous close.

Several other equities analysts also recently commented on INO. Royal Bank of Canada dropped their target price on Inovio Pharmaceuticals from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Oppenheimer dropped their target price on Inovio Pharmaceuticals from $33.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $18.00 target price on shares of Inovio Pharmaceuticals in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Inovio Pharmaceuticals has an average rating of “Hold” and an average price target of $12.40.

Inovio Pharmaceuticals Trading Down 5.3 %

Inovio Pharmaceuticals stock opened at $1.98 on Monday. The company has a market capitalization of $51.68 million, a PE ratio of -0.95 and a beta of 0.84. Inovio Pharmaceuticals has a 12 month low of $1.74 and a 12 month high of $14.75. The stock has a 50-day moving average price of $3.42 and a two-hundred day moving average price of $6.10.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Inovio Pharmaceuticals by 177.0% during the third quarter. BNP Paribas Financial Markets now owns 5,681 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 3,630 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Inovio Pharmaceuticals during the second quarter worth about $82,000. SG Americas Securities LLC bought a new position in shares of Inovio Pharmaceuticals during the third quarter worth about $71,000. MetLife Investment Management LLC raised its position in shares of Inovio Pharmaceuticals by 129.1% during the third quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 8,546 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of Inovio Pharmaceuticals during the third quarter worth about $103,000. 26.79% of the stock is currently owned by 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.