Maxim Weighs In on Inovio Pharmaceuticals Inc (INO) Following Positive Clinical Data for MERS and ZIKA Vaccines
Maxim analyst Jason McCarthy reiterated a Hold rating on shares of Inovio Pharmaceuticals Inc (NASDAQ:INO), after the vaccine maker presented positive clinical data for DNA-based vaccines targeting MERS (Middle East Respiratory Syndrome) and Zika virus at the Coalition for Epidemic Preparedness Innovation (CEPI) meeting on “Vaccines Against Emerging Infections-A Global Insurance”. Inovio shares are currently trading at $6.93, up $0.33 or 5%.
McCarthy commented, “The data generated from the advance of earlier-stage DNA-based vaccines like the MERS and Zika Vaccines are positives but in our view represent only incremental catalysts. Our focus remains on VGX-3100 and the start of the pivotal program in cervical dysplasia. Recall that in late 2016 the trial start was delayed as the FDA requested additional information. Inovio is working to provide the requested information and believes the trial could start potentially in 1H17.”
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason McCarthy has a yearly average return of -14.9% and a 33% success rate. McCarthy has a 19.4% average return when recommending INO, and is ranked #4419 out of 4494 analysts.
Out of the six analysts polled in the past 12 months, five rate Inovio stock a Buy, while one rates the stock a Hold. With a return potential of 97%, the stock’s consensus target price stands at $13.67.