Inovio Pharmaceuticals (NASDAQ:INO) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Inovio Pharmaceuticals reported a quarterly earnings per share (EPS) of ($0.61), surpassing the consensus estimate of ($0.65) by $0.04.
• The company's stock price increased to $1.49 after a trading volume of 1,238,462 shares, which is above its average volume.
• Research analysts have provided mixed ratings, with a consensus rating of "Moderate Buy" and a target price of $8.80, indicating potential for future growth.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.02, Zacks reports.

Inovio Pharmaceuticals Trading Up 3.5%

Shares of NASDAQ INO opened at $1.49 on Wednesday. Inovio Pharmaceuticals has a one year low of $1.30 and a one year high of $8.22. The firm has a market capitalization of $54.64 million, a PE ratio of -0.47 and a beta of 1.38. The business has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $1.84.

Institutional Investors Weigh In On Inovio Pharmaceuticals

A hedge fund recently bought a new stake in Inovio Pharmaceuticals stock. AQR Capital Management LLC acquired a new stake in Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 73,575 shares of the biopharmaceutical company's stock, valued at approximately $120,000. AQR Capital Management LLC owned approximately 0.20% of Inovio Pharmaceuticals as of its most recent filing with the SEC. 26.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INO. Wall Street Zen raised Inovio Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Oppenheimer dropped their target price on Inovio Pharmaceuticals from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $5.00 price target on shares of Inovio Pharmaceuticals in a research note on Wednesday, May 14th. Finally, Piper Sandler assumed coverage on Inovio Pharmaceuticals in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $5.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.80.

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.