Inovio Pharmaceuticals Received its Third Buy in a Row

By Ryan Adsit

After H.C. Wainwright and Aegis Capital assigned a Buy rating to Inovio Pharmaceuticals in the last month, the company received another Buy, this time from Maxim Group. Analyst Jason McCarthy reiterated a Buy rating on Inovio Pharmaceuticals (NASDAQ: INO) today and set a price target of $12. The company’s shares opened today at $9.65.

McCarthy commented:

“Inovio announced that PENNVAX-GP, a DNA-based HIV vaccine, demonstrated 100% immune response rates in healthy subjects (N=94), including both T cell and B cell (antibody) responses.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -12.6% and a 34.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Mateon Therapeutics Inc, and Soleno Therapeutics Inc.

Currently, the analyst consensus on Inovio Pharmaceuticals is Strong Buy and the average price target is $11.20, representing a 16.1% upside.

In a report issued on May 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $13 price target.

Based on Inovio Pharmaceuticals’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $10.38 million and GAAP net loss of $23.09 million. In comparison, last year the company earned revenue of $8.11 million and had a GAAP net loss of $8.04 million.

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Inovio Pharmaceuticals, Inc. is a bio pharmaceutical company. It develops active DNA immunotherapies for cancer and infectious diseases. The company’s portfolio of immune therapies includes SynCon immunotherapies and electroporation delivery systems. Its pipeline consists vgx-3100, ino-3122, ino-3106, pennvax-b and pennvax-g. The company was founded on June 29, 1983 and is headquartered in Plymouth Meeting, PA.