Inovio Pharmaceuticals (NASDAQ:INO) Cut to “Sell” at Zacks Investment Research

Inovio Pharmaceuticals (NASDAQ:INO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Inovio Pharmaceuticals, Inc., formerly known as Inovio Biomedical Corporation, is engaged in the discovery, development, and delivery of a new generation of vaccines, called DNA vaccines, focused on cancers and infectious diseases. The Company’s electroporation DNA delivery technology uses brief, controlled electrical pulses to increase cellular DNA vaccine uptake. Inovio’s clinical programs include human papillomavirus (HPV)/cervical cancer (therapeutic), avian influenza (preventative), hepatitis C virus (HCV) and human immunodeficiency virus (HIV) vaccines. It is advancing preclinical research for a universal seasonal/pandemic influenza vaccine. The Company’s partners and collaborators include University of Pennsylvania, National Microbiology Laboratory of the Public Health Agency of Canada, NIAID, Merck, ChronTech, University of Southampton, and HIV Vaccines Trial Network. Inovio Pharmaceuticals, Inc. is headquartered in Blue Bell, Pennsylvania. “

A number of other brokerages also recently commented on INO. Oppenheimer reiterated a “buy” rating on shares of Inovio Pharmaceuticals in a research note on Friday, April 16th. Bank of America started coverage on shares of Inovio Pharmaceuticals in a research note on Monday, March 29th. They set a “neutral” rating and a $13.00 target price for the company. Piper Sandler lowered their target price on shares of Inovio Pharmaceuticals from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday. Finally, HC Wainwright reiterated a “hold” rating on shares of Inovio Pharmaceuticals in a research note on Friday, April 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.78.

NASDAQ INO traded down $0.07 on Thursday, reaching $6.23. The stock had a trading volume of 7,189,651 shares, compared to its average volume of 13,656,947. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.58 and a beta of 1.08. The company has a quick ratio of 9.14, a current ratio of 9.14 and a debt-to-equity ratio of 0.17. Inovio Pharmaceuticals has a 12-month low of $5.81 and a 12-month high of $33.79. The stock has a fifty day moving average price of $8.08 and a two-hundred day moving average price of $10.25.

Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings data on Monday, May 10th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.09). Inovio Pharmaceuticals had a negative return on equity of 78.17% and a negative net margin of 8,518.10%. The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $1.06 million. The firm’s quarterly revenue was down 69.2% compared to the same quarter last year. Sell-side analysts forecast that Inovio Pharmaceuticals will post -0.88 earnings per share for the current fiscal year.

In other Inovio Pharmaceuticals news, Director David B. Weiner sold 7,000 shares of the company’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $9.39, for a total value of $65,730.00. Also, COO Jacqueline Elizabeth Shea sold 16,881 shares of the company’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $10.06, for a total transaction of $169,822.86. Following the completion of the sale, the chief operating officer now directly owns 98,272 shares of the company’s stock, valued at $988,616.32. The disclosure for this sale can be found here. Insiders sold 69,174 shares of company stock valued at $629,138 in the last 90 days. 4.00% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Inovio Pharmaceuticals by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,095,477 shares of the biopharmaceutical company’s stock valued at $9,695,000 after buying an additional 19,369 shares during the last quarter. Greenwich Wealth Management LLC purchased a new stake in shares of Inovio Pharmaceuticals in the fourth quarter valued at about $107,000. Pacer Advisors Inc. raised its holdings in shares of Inovio Pharmaceuticals by 48.2% in the fourth quarter. Pacer Advisors Inc. now owns 11,967 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 3,894 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Inovio Pharmaceuticals in the fourth quarter valued at about $96,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Inovio Pharmaceuticals in the third quarter valued at about $118,000. 35.96% of the stock is owned by institutional investors and hedge funds.

About Inovio Pharmaceuticals

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 optimized plasmids that have ability to help break the immune system's tolerance of cancerous or infected cells and facilitate cross-strain protection against unmatched and matched pathogen variants.

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