Inovio Pharmaceuticals (INO) Gets a Buy Rating from Maxim Group


Maxim Group analyst Jason McCarthy maintained a Buy rating on Inovio Pharmaceuticals (INO) today and set a price target of $8. The company’s shares opened today at $3.35, close to its 52-week low of $3.02.

McCarthy commented:

“Inovio reported FY18 revenue of $30.5M (milestone, grants) and a net loss of ($97M). The company ended the period with $81.2M in cash, which does not include the convertible note offering announced on 2/14, netting an additional $78.5M.”

According to TipRanks.com, McCarthy has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.3% and a 33.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Vertex Pharmaceuticals, and IntelGenx Technologies.

Currently, the analyst consensus on Inovio Pharmaceuticals is a Strong Buy with an average price target of $11.25, which is a 235.8% upside from current levels. In a report released yesterday, Piper Jaffray also maintained a Buy rating on the stock with a $12 price target.

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Based on Inovio Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $32.96 million. In comparison, last year the company had a GAAP net loss of $21.51 million.

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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.

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