Maxim Group Maintains a Buy Rating on Inovio Pharmaceuticals (INO)

In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Inovio Pharmaceuticals (NASDAQ: INO), with a price target of $8. The company’s shares opened today at $4.53.

McCarthy noted:

“Inovio announced dosing of the first patient in a P1/2a bladder cancer trial with immunotherapy candidate INO-5401. Partnered with Roche/Genentech (ROG – NR), the triple combo used for dosing includes: INO-5401 (multiple cancer antigens) + INO-9012 (IL-12 stimulator) + Roche’s Tecentriq (PD-L1, atezolizumab).”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 11.0% and a 41.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Inovio Pharmaceuticals with a $11 average price target, a 142.8% upside from current levels. In a report issued on August 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $13 price target.

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The company has a one-year high of $7 and a one-year low of $3.64. Currently, Inovio Pharmaceuticals has an average volume of 790.3K.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. Last month, Peter Kies, the CFO of INO sold 35,000 shares for a total of $155,250.

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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.