Inovio Pharmaceuticals Inc (NASDAQ:INO) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.06. The firm earned $8.50 million during the quarter, compared to analyst estimates of $5.21 million. Inovio Pharmaceuticals had a negative net margin of 199.99% and a negative return on equity of 39.93%. The company’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS.
Shares of Inovio Pharmaceuticals (NASDAQ:INO) traded up 3.13% during midday trading on Friday, hitting $6.26. The stock had a trading volume of 650,871 shares. The stock’s market capitalization is $463.87 million. Inovio Pharmaceuticals has a 52 week low of $5.83 and a 52 week high of $11.69. The stock has a 50 day moving average price of $6.61 and a 200-day moving average price of $7.42.
Several analysts have recently weighed in on the company. Aegis restated a “buy” rating on shares of Inovio Pharmaceuticals in a report on Tuesday, March 21st. HC Wainwright set a $13.00 price objective on Inovio Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, March 16th. Maxim Group upgraded Inovio Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, March 16th. Zacks Investment Research lowered Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Finally, Piper Jaffray Companies lowered Inovio Pharmaceuticals from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $9.00 in a report on Thursday, March 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Inovio Pharmaceuticals currently has an average rating of “Buy” and an average price target of $12.10.
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In related news, Director Morton Collins bought 21,300 shares of the company’s stock in a transaction dated Monday, March 27th. The stock was acquired at an average cost of $6.25 per share, with a total value of $133,125.00. Following the acquisition, the director now owns 142,291 shares in the company, valued at approximately $889,318.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jong Joseph Kim sold 147,180 shares of the firm’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $6.54, for a total value of $962,557.20. Following the sale, the chief executive officer now directly owns 2,164,887 shares of the company’s stock, valued at $14,158,360.98. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in INO. New York State Common Retirement Fund boosted its stake in Inovio Pharmaceuticals by 32.6% in the third quarter. New York State Common Retirement Fund now owns 230,458 shares of the biopharmaceutical company’s stock worth $2,148,000 after buying an additional 56,631 shares in the last quarter. Advisor Group Inc. boosted its stake in Inovio Pharmaceuticals by 729.6% in the third quarter. Advisor Group Inc. now owns 12,677 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 11,149 shares in the last quarter. Vident Investment Advisory LLC boosted its stake in Inovio Pharmaceuticals by 67.5% in the fourth quarter. Vident Investment Advisory LLC now owns 106,147 shares of the biopharmaceutical company’s stock worth $737,000 after buying an additional 42,764 shares in the last quarter. Stoneridge Investment Partners LLC boosted its stake in Inovio Pharmaceuticals by 44.4% in the third quarter. Stoneridge Investment Partners LLC now owns 252,376 shares of the biopharmaceutical company’s stock worth $2,352,000 after buying an additional 77,636 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new stake in Inovio Pharmaceuticals during the fourth quarter worth $104,000. 28.72% of the stock is owned by hedge funds and other institutional investors.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a bio-pharmaceutical company, which is involved in developing deoxyribonucleic acid (DNA) immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases. The Company’s DNA-based immunotherapies, in combination with its electroporation delivery devices, generates immune responses, in particular T cells, in the body to fight target diseases.
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