Inovio Pharmaceuticals Price Target Adjusted by Royal Bank of Canada

Inovio Pharmaceuticals (NASDAQ:INO) has seen its price target revised by analysts at Royal Bank of Canada, who lowered the target from $6.00 to $5.00 in a research note issued to investors on Wednesday. The firm has maintained a "sector perform" rating for the biopharmaceutical company. This updated price target suggests a potential upside of 147.77% from Inovio’s previous closing price.

Inovio Pharmaceuticals has recently been discussed in various research reports from different analysts. For instance, HC Wainwright reaffirmed a "neutral" rating and set a price target of $3.00 for the shares in their report published on the same day. On the other hand, JMP Securities expressed a more optimistic view, reissuing a "market outperform" rating with a price target of $18.00 in their research released on January 10. Overall, one analyst has given the stock a "sell" rating, while two analysts have assigned a hold rating, and three have given it buy ratings. According to data from MarketBeat.com, Inovio Pharmaceuticals holds a consensus rating of "Hold" with an average target price of $12.20.

Stock Performance

Inovio Pharmaceuticals stock experienced a decline of $0.08 on Wednesday, bringing the stock price to $2.02 during mid-day trading. The share volume reached 261,914, lower than the average volume of 539,855. Currently, the stock's 50-day simple moving average is $2.05, while the 200-day simple moving average stands at $3.77. Over the last year, Inovio shares have traded between a low of $1.74 and a high of $14.75. The company has a market capitalization of $52.67 million and a price-to-earnings ratio of -0.96, indicating ongoing challenges in profitability.

Institutional Trading Activity

Recently, several institutional investors have adjusted their positions in Inovio Pharmaceuticals. For example, Alpine Global Management LLC acquired a new stake worth about $31,000 during the fourth quarter. Additionally, BNP Paribas Financial Markets increased its stake by 177.0% in the third quarter, now owning 5,681 shares valued at $33,000. Bank of Montreal Can and Boothbay Fund Management LLC also made new investments in Inovio Pharmaceuticals, with stakes worth $43,000 and $44,000 respectively. Moreover, Barclays PLC raised its stake by 15.0%, holding a total of 39,114 shares now valued at $71,000. Presently, institutional investors own 26.79% of the company's shares.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc. is a biotechnology company focused on discovering, developing, and commercializing DNA medicines aimed at treating and protecting against diseases linked to human papillomavirus (HPV), cancer, and infectious diseases. The company employs a DNA medicines platform that utilizes specifically designed SynCon technology to identify and optimize the DNA sequences of target antigens, along with the CELLECTRA smart devices for efficient delivery of DNA plasmids.

Investing, Pharmaceuticals, Stocks