Stifel Nicolaus cut shares of Inovio Pharmaceuticals (NASDAQ:INO) from a buy rating to a hold rating in a research note published on Friday, Benzinga reports. They currently have $24.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $19.00.

A number of other equities analysts also recently issued reports on INO. HC Wainwright reissued a buy rating and set a $17.00 price target on shares of Inovio Pharmaceuticals in a research report on Friday, June 5th. Royal Bank of Canada downgraded shares of Inovio Pharmaceuticals to a hold rating in a research report on Monday, April 6th. Cantor Fitzgerald upped their price target on shares of Inovio Pharmaceuticals from $13.00 to $17.00 and gave the stock an overweight rating in a research report on Wednesday, April 29th. Benchmark began coverage on shares of Inovio Pharmaceuticals in a research note on Thursday, May 21st. They set a buy rating on the stock. Finally, Piper Sandler downgraded shares of Inovio Pharmaceuticals from an overweight rating to a neutral rating and set a $8.00 price objective for the company. in a research note on Friday, March 13th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $13.56.

Shares of NASDAQ:INO opened at $31.69 on Friday. The firm’s 50 day simple moving average is $15.26 and its 200-day simple moving average is $8.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 8.53 and a current ratio of 8.53. Inovio Pharmaceuticals has a one year low of $1.91 and a one year high of $33.79. The firm has a market cap of $4.60 billion, a PE ratio of -26.63 and a beta of 1.39.

Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The firm had revenue of $1.33 million during the quarter, compared to the consensus estimate of $1.55 million. Inovio Pharmaceuticals had a negative return on equity of 166.85% and a negative net margin of 4,700.42%. During the same period last year, the company earned ($0.30) EPS. Equities research analysts predict that Inovio Pharmaceuticals will post -0.74 EPS for the current fiscal year.

In other Inovio Pharmaceuticals news, Director David B. Weiner sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $11.84, for a total value of $28,463.36. Following the sale, the director now owns 827,219 shares in the company, valued at approximately $9,794,272.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Laurent Humeau sold 19,467 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $14.70, for a total transaction of $286,164.90. Following the sale, the insider now directly owns 63,433 shares in the company, valued at approximately $932,465.10. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Inovio Pharmaceuticals by 78.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 182,771 shares of the biopharmaceutical company’s stock worth $603,000 after purchasing an additional 80,574 shares in the last quarter. Bank of Montreal Can boosted its holdings in Inovio Pharmaceuticals by 29.8% in the 4th quarter. Bank of Montreal Can now owns 17,045 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 3,912 shares during the last quarter. Raymond James & Associates increased its stake in Inovio Pharmaceuticals by 22.5% during the 4th quarter. Raymond James & Associates now owns 22,163 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 4,075 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Inovio Pharmaceuticals by 67.3% during the 1st quarter. Nuveen Asset Management LLC now owns 555,677 shares of the biopharmaceutical company’s stock worth $4,134,000 after buying an additional 223,563 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Inovio Pharmaceuticals during the first quarter valued at approximately $79,000. 27.82% of the stock is owned by institutional investors and hedge funds.

About Inovio Pharmaceuticals

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.

Further Reading: What does a hold rating mean?

Analyst Recommendations for Inovio Pharmaceuticals (NASDAQ:INO)

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