Maxim Maintains Buy On Inovio Pharmaceuticals As It Adds Another Immunotherapy Product
In a research report issued today, Maxim Group analyst Jason Kolbert maintained a Buy rating on Inovio Pharmaceuticals (NASDAQ:INO) with a price target of $18.00, as the company announced its newest DNA-based cancer immunotherapy targeting melanoma induced a robust and broad immune response in animals and directed cancer-killing T cells against tumors.
Kolbert explained how he valued the company, “The FCFF model uses a 15% discount rate, as we believe that the platform technology has demonstrated measurable T cell responses. We also use a discounted-EPS model and a sum-of-the-parts model. These models average to an $18.00 price target. These metrics are dependent on our clinical assumptions.”
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 5.2% and a 40.0% success rate. Kolbert has a 6.3% average return when recommending INO, and is ranked #692 out of 3377 analysts.