Inovio Pharmaceuticals (NASDAQ:INO) Price Target Lowered to $5.00 at Royal Bank of Canada

Inovio Pharmaceuticals (NASDAQ:INO) had its price target lowered by equities research analysts at Royal Bank of Canada from $6.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 147.77% from the company’s previous close.

INO has been the subject of a number of other research reports. HC Wainwright reissued a “neutral” rating and issued a $3.00 price objective on shares of Inovio Pharmaceuticals in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $18.00 price objective on shares of Inovio Pharmaceuticals in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Inovio Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $12.20.

Inovio Pharmaceuticals Stock Performance

Inovio Pharmaceuticals stock traded down $0.08 during mid-day trading on Wednesday, reaching $2.02. The company’s stock had a trading volume of 261,914 shares, compared to its average volume of 539,855. The business’s 50 day simple moving average is $2.05 and its 200 day simple moving average is $3.77. Inovio Pharmaceuticals has a 12 month low of $1.74 and a 12 month high of $14.75. The company has a market capitalization of $52.67 million, a price-to-earnings ratio of -0.96 and a beta of 0.92.

Institutional Trading of Inovio Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of INO. Alpine Global Management LLC bought a new stake in shares of Inovio Pharmaceuticals during the 4th quarter worth about $31,000. BNP Paribas Financial Markets raised its stake in Inovio Pharmaceuticals by 177.0% in the 3rd 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. Bank of Montreal Can acquired a new stake in Inovio Pharmaceuticals in the 4th quarter worth about $43,000. Boothbay Fund Management LLC acquired a new stake in Inovio Pharmaceuticals in the 4th quarter worth about $44,000. Finally, Barclays PLC raised its stake in Inovio Pharmaceuticals by 15.0% in the 4th quarter. Barclays PLC now owns 39,114 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 5,111 shares in the last quarter. Institutional investors own 26.79% of the company’s stock.

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.