In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Inovio Pharmaceuticals (INO), with a price target of $8. The company’s shares opened today at $3.04, close to its 52-week low of $2.75.
McCarthy observed:
“Inovio reported yesterday that the company had received notification from MedImmune (AstraZeneca, AZN – NR) that AstraZeneca intends to discontinue activities with respect to research programs other than MEDI0457 (Inovio’s INO-3112 synthetic DNA Vaccine) that are the subject of a license agreement from August 2015.”
According to TipRanks.com, McCarthy has 0 stars on 0-5 star ranking scale with an average return of -15.9% and a 25.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Inovio Pharmaceuticals with a $10.50 average price target, representing a 245.4% upside. In a report issued on May 17, 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 $6.30 and a one-year low of $2.75. Currently, Inovio Pharmaceuticals has an average volume of 1.14M.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock.
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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.
