In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Inovio Pharmaceuticals (NASDAQ: INO), with a price target of $13. The company’s shares closed yesterday at $5.37.
Selvaraju commented:
“We note that this is the first time the dMAb technology has shown to generate monoclonal antibody- based therapies targeting checkpoint inhibitors, and the results bode well for additional dMAb candidates being developed to target other checkpoint molecules such as PD-1. Inovio plans to advance dMAb into the first-in-human trial in 2019. If dMAb delivered intracellularly by electroporation could enable patients’ own cells to manufacture the therapeutic monoclonal antibody products, then this approach has the potential to do away with the complex manufacturing and frequent dosing associated with MAb therapies marketed today and allows for broader access to immunotherapies. This program has been funded by Agency (DARPA), the Health (NIH), and Gates Foundation.”
According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of 0.0% and a 35.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Synergy Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Inovio Pharmaceuticals with a $10.25 average price target, a 90.9% upside from current levels. In a report issued on October 2, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $8 price target.
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The company has a one-year high of $6.52 and a one-year low of $3.64. Currently, Inovio Pharmaceuticals has an average volume of 926.8K.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. Last month, Jong Joseph Kim, the CEO of INO sold 49,060 shares for a total of $263,452.
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Inovio Pharmaceuticals, Inc. engages in the development of active DNA immunotherapies for cancer and infectious diseases. Its portfolio of immune therapies includes SynCon immunotherapies and electroporation delivery systems. The company was founded on June 29, 1983 and is headquartered in Plymouth Meeting, PA.
