Maxim Reiterates Buy on Inovio Pharmaceuticals Inc (INO) Following Completion of Acquisition of Needle-Free Injection Technology
In a research report issued Monday, Maxim analyst Jason McCarthy reiterated a Buy rating on shares of Inovio Pharmaceuticals Inc (NASDAQ:INO), with a price target of $14, after the biotech company announced that it completed the previously announced acquisition of “Needle-Free Injection Technology” from BioJect Medical Technologies.
McCarthy noted, “Inovio’s current vaccines and immunotherapies in development, including VGX-3100, INO-3112, Ebola and Zika Vaccines, as well as others in both oncology and infectious disease will continue to use the CELLECTRA delivery technology (injection with electroporation in one) which has a clear path for clinical development and commercialization. The needle-free platform will continue to be developed and in the long-term could be a paradigmshifting technology in vaccine delivery for vaccinating large populations rapidly and more cost-effective.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason McCarthy has a yearly average return of -2% and a 35% success rate. McCarthy has a 81% average return when recommending INO, and is ranked #3008 out of 3908 analysts.
As of this writing, all the 5 analysts polled by TipRanks rate Inovio Pharmaceuticals stock a Buy. With a return potential of 78%, the stock’s consensus target price stands at $19.