In a report released yesterday, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Inovio Pharmaceuticals (INO – Research Report), with a price target of $12. The company’s shares closed yesterday at $3.87.
“. We reiterate our Overweight rating and 12-mo PT of $12 on INO. Inovio reported 1Q19 financial performance, ending the period with cash of $128M. Our model projects sufficient funding into 1H21, beyond two key data readouts from -2 clinical studies (VGX-3100, cervical dysplasia). We see the P3 REVEAL data & VGX-3100 for vulvar and anal dysplasia interim results as the major value drivers in the next 12-18 mos. In our view, the breadth and depth of Inovio’s emerging HPV-focused therapeutics platform is underappreciated, but data in the next 12 mos could enhance investor conviction and turn this glass-half-empty story to one that is way more than half-full. HPV franchise progress and expansion.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.8% and a 49.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
Inovio Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $10.67, implying a 175.7% upside from current levels. In a report issued on May 7, H.C. Wainwright also reiterated a Buy rating on the stock with a $13 price target.
Based on Inovio Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $32.96 million. In comparison, last year the company had a GAAP net loss of $32.35 million.
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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.