Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $43.60.

A number of brokerages have recently issued reports on INO. Royal Bank of Canada dropped their price target on shares of Inovio Pharmaceuticals from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Friday. Oppenheimer dropped their target price on shares of Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, August 12th.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Inovio Pharmaceuticals by 177.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,681 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 3,630 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Inovio Pharmaceuticals in the second quarter valued at $82,000. Signature Estate & Investment Advisors LLC bought a new stake in Inovio Pharmaceuticals in the second quarter worth $88,000. SG Americas Securities LLC purchased a new stake in Inovio Pharmaceuticals during the third quarter valued at $71,000. Finally, MetLife Investment Management LLC lifted its position in Inovio Pharmaceuticals by 129.1% during the third quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 8,546 shares during the last quarter. Institutional investors own 26.79% of the company’s stock.

Inovio Pharmaceuticals Stock Down 10.6 %

Shares of NASDAQ INO opened at $4.27 on Friday. The company has a 50 day simple moving average of $5.75 and a two-hundred day simple moving average of $8.17. Inovio Pharmaceuticals has a fifty-two week low of $4.20 and a fifty-two week high of $14.75.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.