Inovio Pharmaceuticals (NASDAQ:INO) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research has downgraded Inovio Pharmaceuticals from a "strong-buy" rating to a "hold" rating as of Wednesday.
• Other analysts have adjusted their target prices, with Oppenheimer reducing it to $13.00 and Royal Bank Of Canada setting a target of $5.00.
• As of now, Inovio's stock has an average rating of "Moderate Buy" with a consensus price target of $8.80.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday, September 3rd,Zacks.com reports.

INO has been the topic of several other research reports. Piper Sandler assumed coverage on shares of Inovio Pharmaceuticals in a research note on Wednesday, July 9th. They set an "overweight" rating and a $5.00 target price on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $5.00 target price on shares of Inovio Pharmaceuticals in a research note on Wednesday, May 14th. Oppenheimer lowered their target price on shares of Inovio Pharmaceuticals from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. HC Wainwright restated a "neutral" rating and set a $3.00 target price on shares of Inovio Pharmaceuticals in a research note on Thursday, August 14th. Finally, Wall Street Zen cut shares of Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Inovio Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.80.

Inovio Pharmaceuticals Price Performance

Inovio Pharmaceuticals stock traded up $0.05 during mid-day trading on Wednesday, reaching $2.80. 648,432 shares of the company traded hands, compared to its average volume of 1,307,697. The firm's 50 day moving average price is $1.77 and its 200 day moving average price is $1.86. The firm has a market capitalization of $148.53 million, a price-to-earnings ratio of -1.07 and a beta of 1.62. Inovio Pharmaceuticals has a 52-week low of $1.30 and a 52-week high of $7.00.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last released its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, topping analysts' consensus estimates of ($0.63) by $0.02. On average, sell-side analysts anticipate that Inovio Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Inovio Pharmaceuticals by 15.0% in the 4th quarter. Barclays PLC now owns 39,114 shares of the biopharmaceutical company's stock worth $71,000 after acquiring an additional 5,111 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Inovio Pharmaceuticals by 39.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,781 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 5,894 shares in the last quarter. Bank of Montreal Can grew its holdings in Inovio Pharmaceuticals by 23.7% during the 2nd quarter. Bank of Montreal Can now owns 57,946 shares of the biopharmaceutical company's stock valued at $118,000 after buying an additional 11,110 shares in the last quarter. Northern Trust Corp grew its holdings in Inovio Pharmaceuticals by 6.4% during the 4th quarter. Northern Trust Corp now owns 219,057 shares of the biopharmaceutical company's stock valued at $401,000 after buying an additional 13,269 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Inovio Pharmaceuticals by 22.4% during the 1st quarter. Bank of New York Mellon Corp now owns 75,422 shares of the biopharmaceutical company's stock valued at $123,000 after buying an additional 13,784 shares in the last quarter. 26.79% of the stock is owned by hedge funds and other institutional investors.

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.