Royal Bank of Canada Issues Pessimistic Forecast for Inovio Pharmaceuticals (NASDAQ:INO) Stock Price

Inovio Pharmaceuticals (NASDAQ:INO) had its target price cut by Royal Bank of Canada from $7.00 to $6.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a sector perform rating on the biopharmaceutical company’s stock.

Separately, Oppenheimer reduced their price objective on Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.00.

Inovio Pharmaceuticals Price Performance

Shares of INO opened at $4.08 on Friday. The firm has a market capitalization of $105.79 million, a price-to-earnings ratio of -1.12 and a beta of 0.83. The company has a 50-day moving average of $5.75 and a 200 day moving average of $8.14. Inovio Pharmaceuticals has a 1-year low of $4.07 and a 1-year high of $14.75.

Institutional Investors Weigh In On Inovio Pharmaceuticals

A number of hedge funds have recently made changes to their positions in INO. BNP Paribas Financial Markets raised its holdings in Inovio Pharmaceuticals by 177.0% in the third quarter. BNP Paribas Financial Markets now owns 5,681 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 3,630 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Inovio Pharmaceuticals by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 8,546 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Inovio Pharmaceuticals during the 2nd quarter worth approximately $82,000. Signature Estate & Investment Advisors LLC purchased a new stake in Inovio Pharmaceuticals during the second quarter valued at approximately $88,000. Finally, American Century Companies Inc. boosted its stake in Inovio Pharmaceuticals by 62.2% in the second quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 12,100 shares in the last quarter. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

About Inovio Pharmaceuticals

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.