Company Update (NASDAQ:INO): Inovio Pharmaceuticals Inc Announces Public Offering of Common Stock
Inovio Pharmaceuticals Inc (Nasdaq:INO), announced that it intends to offer and sell shares of its common stock in an underwritten public offering. Piper Jaffray & Co. and Stifel are acting as joint bookrunning managers for the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. (Original Source)
Shares of Inovio Pharmaceuticals closed today at $9.66, down $0.05 or 0.51%. INO has a 1-year high of $13.04 and a 1-year low of $6.33. The stock’s 50-day moving average is $9.11 and its 200-day moving average is $9.18.
On the ratings front, Inovio has been the subject of a number of recent research reports. In a report issued on March 16, Brean Capital analyst Jonathan Aschoff reiterated a Buy rating on INO, with a price target of $20, which implies an upside of 105.8% from current levels. Separately, on March 12, H.C. Wainwright’s Yi Chen initiated coverage with a Buy rating on the stock and has a price target of $17.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jonathan Aschoff and Yi Chen have a total average return of 7.8% and 19.5% respectively. Aschoff has a success rate of 52.0% and is ranked #459 out of 3583 analysts, while Chen has a success rate of 63.6% and is ranked #1036.
Inovio Pharmaceuticals Inc is a clinical stage biopharmaceutical company. The Company develops active DNA immunotherapies and vaccines in combination with proprietary electroporation delivery devices to prevent and treat cancers and infectious diseases.