Maxim Group Reiterates Buy On Inovio Pharmaceuticals Following Initiation Plans For Phase 1 Study
In a research report issued today, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Inovio Pharmaceuticals (NYSE:INO) with a $18 price target, as the company plans to initiate a phase 1 trial (HPV Immunotherapy) targeting “aerodigestive cancers.”
Kolbert explained, “This study is part of Inovio’s strategy to broadly expand the clinical development of its DNA-based immune therapy products to treat different HPV types and the many diseases they cause. It is a phase I, open-label compassionate study enrolling patients with invasive cancer who have exhausted all other treatment options (chemotherapy, radiation, and surgery). The study will test Inovio’s immunotherapy, INO-3106, alone or in combination with DNA-based IL-12, Inovio’s proprietary immune activator, in subjects with HPV-6-associated aerodigestive malignancies. Successful results could open a path to pursuing an FDA orphan designation (special status granted for therapies for rare diseases) for aerodigestive cancers.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 11.0% and a 47.4% success rate. Kolbert has a 9.9% average return when recommending INO, and is ranked #287 out of 3295 analysts.