Inovio Pharmaceuticals (INO) Received its Third Buy in a Row


After Maxim Group and Piper Jaffray gave Inovio Pharmaceuticals (NASDAQ: INO) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Inovio Pharmaceuticals today and set a price target of $13. The company’s shares closed yesterday at $3.56, close to its 52-week low of $3.31.

Selvaraju said:

“Our 12-month price target is derived from a market value of the firm at $1.3B, which includes a discounted cash flow based asset value of $1.4B for 15% discount rate, 2% terminal growth rate, 80% probability of success, excluding $78.5M debt and assuming 105M shares outstanding at the end of 1Q20. Risks include, but are not limited to: (1) failure of VGX-3100 in clinical trials; (2) failure of VGX-3100 to secure regulatory approval; (3) failure of VGX-3100 to achieve commercial success due to market size, penetration rate, and/or competition; and (4) potential dilution risk.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.6% and a 37.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Inovio Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $11, implying a 209.0% 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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