Maxim Reiterates Buy on Inovio Pharmaceuticals Inc (INO) Following New Collaboration with EORTC for INO-3112
Maxim analyst Jason Kolbert came out today with a favorable report on Inovio Pharmaceuticals Inc (NASDAQ:INO), after the company announced that it will collaborate with the European Organization for Research and Treatment of Cancer to evaluate INO-3112 in a large phase II study in women with advanced-stage cervical cancer. The analyst rates Inovio Pharmaceuticals stock a Buy with a price target of $20, which represents a potential upside of nearly 177% from Thursday’s closing price of $7.23.
Kolbert noted, “The EORTC is the largest cancer research organization in Europe and can be a tremendous asset to Inovio. This is the only organization in Europe that can conduct clinical studies throughout Europe (all countries).” Furthermore, “A large organization in the EORTC coming on board further validates Inovio’s cancer immunotherapy platform.”
“Inovio is continuing to make progress in multiple indications spanning oncology and infectious disease. We also expect more big pharma parters to be attracted to the platform, particulalry for combination therapies. Milestones are coming and that could drive valuation inflection.”, the analyst concluded.
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 -0.3% and a 40.1% success rate. Kolbert has a -16.6% average return when recommending INO, and is ranked #2861 out of 3713 analysts.
All the 4 analysts polled by TipRanks rate Inovio Pharmaceuticals stock a Buy. With a return potential of 162.8%, the stock’s consensus target price stands at $19.