Piper Jaffray Reiterates Buy On Inovio As The Stock Is Rising Above The Noise with Ebola
In a research report released today, Piper Jaffray analyst Charles Duncan reiterated a Overweight rating on Inovio Pharmaceuticals (NASDAQ:INO) with a $29 price target, as the company recently announced that it is moving its Ebola DNA vaccine into Phase I
trials with GeneOne Life Science.
Duncan wrote, “The collaboration will last at least through Phase I development and a trial is expected to commence 1H15. If positive data is reported, the companies will seek outside development funding, likely from a U.S. government source, we believe. This announcement comes during a period in which many Ebola vaccine programs are surfacing; however, we see Inovio’s method of producing vaccines for diverse antigenic reactivity potentially overcoming Ebola’s propensity for mutation, broadening vaccine efficacy and resulting in best-in-class or at least a differentiated profile. We believe this Ebola collaboration further supports our thesis that Inovio’s DNA vaccine platform has broad applicability to infectious diseases, as well as precancerous conditions and cancers.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Charles Duncan has a total average return of 5.4% and a 48.3% success rate. Duncan has a -34.3% average return when recommending INO, and is ranked #1125 out of 3335 analysts.