After Cantor Fitzgerald and Maxim Group 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 $3.72.
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 ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.1% and a 31.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Inovio Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $10.67, a 186.8% upside from current levels. In a report issued on April 3, Maxim Group also maintained a Buy rating on the stock with a $8 price target.
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The company has a one-year high of $6.30 and a one-year low of $3.02. Currently, Inovio Pharmaceuticals has an average volume of 1.39M.
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Inovio Pharmaceuticals, Inc. is a late-stage biotechnology company, which engages in the discovery, development, and commercialization of DNA-based immunotherapies and vaccines. Its drug candidates include SynCon immunotherapies which helps break the immune system’s tolerance of cancerous cells; and CELLECTRA delivery system which facilitates optimized cellular uptake of the SynCon immunotherapies. The company was founded by David B. Weiner on June 29, 1983 and is headquartered in Plymouth Meeting, PA.
