Maxim Group analyst Jason McCarthy assigned a Buy rating to Inovio Pharmaceuticals (NASDAQ: INO) today and set a price target of $8. The company’s shares opened today at $5.04.
McCarthy noted:
“Inovio announced the initiation of a P2 study of DNA-based immunotherapy VGX-3100 for HPV-related (Human Papillomavirus) anal or perianal high-grade squamous intraepithelial lesions (HSIL). This is the third “in-house” HPV- related study for VGX-3100; P3 in cervical dysplasia and P2 in high-grade vulvar lesions are both ongoing. In addition, partner MedImmune (AZN – NR) is developing MEDI0457 (VGX-3100 + IL-12 ) for H&N cancer.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 6.1% and a 46.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Currently, the analyst consensus on Inovio Pharmaceuticals is Strong Buy and the average price target is $11.67, representing a 131.5% upside.
In a report issued on May 10, 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 $9.86 and a one-year low of $3.76. Currently, Inovio Pharmaceuticals has an average volume of 1.02M.
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 211,250 shares for a total of $1,075,113.
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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.
