Piper Sandler Reiterates "Overweight" Rating for Inovio Pharmaceuticals (NASDAQ:INO)

Key Points

• Piper Sandler maintained an “overweight” rating on Inovio Pharmaceuticals but lowered its price target to $4.00 from $6.00, implying substantial upside from the stock’s $0.71 trading price.
• Analyst sentiment is mixed: MarketBeat reports an average rating of “Hold” and a consensus price target of $3.25, with four Buy, two Hold, and one Sell ratings.
• Inovio shares rose 5.5% to $0.71, while the company reported a quarterly loss of $0.28 per share—better than the expected $0.30 loss—and institutional investors own 26.79% of the stock.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report)'s stock had its "overweight" rating reiterated by equities researchers at Piper Sandler in a note issued to investors on Monday,Benzinga reports. They presently have a $4.00 target price on the biopharmaceutical company's stock, down from their previous target price of $6.00. Piper Sandler's price target would suggest a potential upside of 460.22% from the company's current price.

A number of other analysts have also recently commented on the company. Wall Street Zen cut Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, June 21st. Weiss Ratings upgraded Inovio Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Finally, HC Wainwright cut their price objective on shares of Inovio Pharmaceuticals from $3.00 to $2.50 and set a "neutral" rating on the stock in a research report on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Inovio Pharmaceuticals has an average rating of "Hold" and a consensus price target of $3.25.

Inovio Pharmaceuticals Trading Up 5.5%

INO stock traded up $0.04 during trading on Monday, hitting $0.71. The company had a trading volume of 4,730,859 shares, compared to its average volume of 2,230,962. Inovio Pharmaceuticals has a one year low of $0.56 and a one year high of $2.98. The business has a 50-day moving average of $1.12 and a 200-day moving average of $1.35. The stock has a market cap of $58.74 million, a PE ratio of -0.50 and a beta of 1.52.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.02. Research analysts forecast that Inovio Pharmaceuticals will post -1.03 EPS for the current year.

Institutional Trading of Inovio Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of INO. Focus Partners Wealth bought a new position in Inovio Pharmaceuticals during the third quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Inovio Pharmaceuticals by 39.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,781 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 5,894 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Inovio Pharmaceuticals by 752.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 20,572 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 18,160 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Inovio Pharmaceuticals by 4,396.0% during the third quarter. Raymond James Financial Inc. now owns 16,680 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 16,309 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Inovio Pharmaceuticals in the third quarter valued at $41,000. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals is a biotechnology company focused on the discovery, development and commercialization of DNA-based immunotherapies and vaccines aimed at treating and preventing infectious diseases and cancers. The company leverages proprietary technologies to design synthetic DNA sequences that encode antigens capable of eliciting targeted immune responses. Inovio's business activities span early research through clinical development, with a primary emphasis on advancing candidates against viral pathogens such as SARS-CoV-2, human papillomavirus (HPV), HIV, Ebola, Zika and other emerging threats.

Central to Inovio's platform is its SynCon® technology, which constructs optimized DNA plasmids for broad antigen coverage, and the Cellectra® electroporation device, designed to enhance cellular uptake and expression of DNA vaccines.

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