Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Stock Has Consensus Price Target of $3.17 According to Analysts

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) has received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.17.

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $4.00 price target on shares of Inovio Pharmaceuticals in a research report on Monday, August 3rd. Wall Street Zen raised Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings cut Inovio Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Jefferies Financial Group raised Inovio Pharmaceuticals from a “hold” rating to a “positive” rating and boosted their target price for the company from $1.80 to $3.00 in a report on Thursday, August 13th. Finally, HC Wainwright reissued a “neutral” rating on shares of Inovio Pharmaceuticals in a research report on Thursday, August 13th.

Hedge Funds Weigh In On Inovio Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in INO. Eversept Partners LP purchased a new stake in Inovio Pharmaceuticals during the 1st quarter valued at approximately $1,802,000. Renaissance Technologies LLC lifted its position in Inovio Pharmaceuticals by 16.4% during the 1st quarter. Renaissance Technologies LLC now owns 643,777 shares of the biopharmaceutical company’s stock worth $1,120,000 after acquiring an additional 90,613 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Inovio Pharmaceuticals by 1,929.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 48,948 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 46,536 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Inovio Pharmaceuticals by 46.5% in the 2nd quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 11,554 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Inovio Pharmaceuticals in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 26.79% of the company’s stock.

Inovio Pharmaceuticals Stock Performance

INO stock opened at $1.16 on Friday. The stock has a market cap of $119.94 million, a P/E ratio of -1.27 and a beta of 1.61. Inovio Pharmaceuticals has a twelve month low of $0.56 and a twelve month high of $2.72. The company’s 50 day moving average is $1.12 and its two-hundred day moving average is $1.19.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.15. On average, equities research analysts predict that Inovio Pharmaceuticals will post -0.72 earnings per share for the current year.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc is a biotechnology company focused on developing DNA medicines designed to treat and prevent serious diseases. Its platform uses synthetic DNA plasmids to instruct cells to produce targeted proteins, with delivery supported by its CELLECTRA electroporation devices. The company’s research has included candidates for cancer, infectious diseases and human papillomavirus (HPV)-related conditions.

Inovio’s pipeline has included INO-3107, an investigational DNA immunotherapy for recurrent respiratory papillomatosis, a rare disease caused by HPV, as well as other development programs targeting cancers and infectious diseases.