Inovio Pharmaceuticals Inc. (NASDAQ:INO) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They currently have a $11.11 price objective on the biopharmaceutical company’s stock. Vetr‘s price objective would suggest a potential upside of 30.40% from the stock’s previous close.
A number of other research analysts have also recently issued reports on INO. Rodman & Renshaw reaffirmed a “buy” rating on shares of Inovio Pharmaceuticals in a report on Saturday, April 9th. Maxim Group reaffirmed a “buy” rating and issued a $14.00 price target on shares of Inovio Pharmaceuticals in a report on Wednesday, April 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, May 9th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Inovio Pharmaceuticals in a report on Tuesday, June 21st. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $31.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, July 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $16.39.
Inovio Pharmaceuticals (NASDAQ:INO) traded down 4.70% during trading on Monday, hitting $8.52. 1,299,400 shares of the stock traded hands. The firm’s 50-day moving average is $9.18 and its 200 day moving average is $9.20. Inovio Pharmaceuticals has a 52 week low of $4.50 and a 52 week high of $11.69. The stock’s market cap is $626.63 million.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/11/vetr-inc-downgrades-inovio-pharmaceuticals-inc-ino-to-buy.html

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.05. The company had revenue of $6.20 million for the quarter, compared to the consensus estimate of $4.95 million. Inovio Pharmaceuticals had a negative net margin of 88.19% and a negative return on equity of 22.29%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share. Equities research analysts forecast that Inovio Pharmaceuticals will post ($0.93) earnings per share for the current fiscal year.
In other news, COO Niranjan Sardesai sold 21,800 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $9.30, for a total transaction of $202,740.00. Following the completion of the transaction, the chief operating officer now directly owns 70,234 shares in the company, valued at approximately $653,176.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Morton Collins bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The shares were bought at an average price of $9.13 per share, with a total value of $91,300.00. Following the completion of the transaction, the director now directly owns 142,291 shares in the company, valued at approximately $1,299,116.83. The disclosure for this purchase can be found here. Insiders own 9.90% of the company’s stock.
Several institutional investors have modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Inovio Pharmaceuticals by 1.4% in the first quarter. BlackRock Fund Advisors now owns 2,804,668 shares of the biopharmaceutical company’s stock valued at $24,429,000 after buying an additional 37,732 shares in the last quarter. Millennium Management LLC raised its position in shares of Inovio Pharmaceuticals by 101.7% in the fourth quarter. Millennium Management LLC now owns 697,543 shares of the biopharmaceutical company’s stock valued at $4,687,000 after buying an additional 351,681 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Inovio Pharmaceuticals by 10.3% in the first quarter. Geode Capital Management LLC now owns 481,434 shares of the biopharmaceutical company’s stock valued at $4,193,000 after buying an additional 44,923 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Inovio Pharmaceuticals by 6.8% in the first quarter. Panagora Asset Management Inc. now owns 366,829 shares of the biopharmaceutical company’s stock valued at $3,195,000 after buying an additional 23,279 shares in the last quarter. Finally, Bellevue Group AG acquired a new position in shares of Inovio Pharmaceuticals during the first quarter valued at about $2,308,000. Institutional investors and hedge funds own 28.81% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a bio-pharmaceutical company, which is involved in developing deoxyribonucleic acid (DNA) immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases. The Company’s DNA-based immunotherapies, in combination with its electroporation delivery devices, generates immune responses, in particular T cells, in the body to fight target diseases.
To view Vetr’s full report, visit Vetr’s official website.

Receive News & Ratings for Inovio Pharmaceuticals Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Inovio Pharmaceuticals Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.