Inovio Pharmaceuticals (NASDAQ:INO) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, March 27th, BidAskClub reports.
A number of other analysts have also issued reports on INO. Zacks Investment Research upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 15th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Inovio Pharmaceuticals in a research report on Friday, March 22nd. Finally, Maxim Group set a $8.00 target price on Inovio Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, February 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $7.57.
Shares of INO traded up $0.01 during mid-day trading on Wednesday, hitting $3.73. The stock had a trading volume of 1,282,845 shares, compared to its average volume of 1,174,522. Inovio Pharmaceuticals has a 52 week low of $3.02 and a 52 week high of $6.30. The firm has a market cap of $364.15 million, a PE ratio of -3.55 and a beta of 1.72.
A number of hedge funds have recently added to or reduced their stakes in INO. BlackRock Inc. boosted its position in shares of Inovio Pharmaceuticals by 1.7% during the 3rd quarter. BlackRock Inc. now owns 6,959,341 shares of the biopharmaceutical company’s stock worth $38,696,000 after purchasing an additional 114,003 shares during the period. FMR LLC purchased a new stake in shares of Inovio Pharmaceuticals during the 3rd quarter worth $2,221,000. Panagora Asset Management Inc. raised its stake in Inovio Pharmaceuticals by 95.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 646,661 shares of the biopharmaceutical company’s stock worth $3,595,000 after acquiring an additional 316,457 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Inovio Pharmaceuticals by 446.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 520,426 shares of the biopharmaceutical company’s stock worth $2,894,000 after acquiring an additional 425,188 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Inovio Pharmaceuticals by 20.4% during the 3rd quarter. Renaissance Technologies LLC now owns 375,381 shares of the biopharmaceutical company’s stock worth $2,087,000 after acquiring an additional 63,700 shares in the last quarter. Institutional investors own 36.43% of the company’s stock.
Inovio Pharmaceuticals Company Profile
Inovio Pharmaceuticals, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of DNA-based immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.
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