Inovio Pharmaceuticals (NASDAQ:INO) Given New $15.00 Price Target at Oppenheimer

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) had its price target reduced by equities researchers at Oppenheimer from $33.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the biopharmaceutical company's stock. Oppenheimer's target price indicates a potential upside of 268.55% from the stock's current price.

Separately, Royal Bank of Canada decreased their target price on shares of Inovio Pharmaceuticals from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Inovio Pharmaceuticals currently has a consensus rating of "Hold" and an average target price of $38.00.

Inovio Pharmaceuticals Stock Down 4.5 %

INO traded down $0.19 during trading on Monday, reaching $4.07. The company's stock had a trading volume of 553,335 shares, compared to its average volume of 403,463. The firm has a fifty day simple moving average of $5.75 and a two-hundred day simple moving average of $8.14. Inovio Pharmaceuticals has a 1 year low of $4.07 and a 1 year high of $14.75. The company has a market cap of $105.66 million, a price-to-earnings ratio of -1.12 and a beta of 0.83.

Institutional Trading of Inovio Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in INO. Bank of New York Mellon Corp acquired a new stake in shares of Inovio Pharmaceuticals during the 2nd quarter worth approximately $661,000. Signature Estate & Investment Advisors LLC acquired a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $88,000. Rhumbline Advisers increased its holdings in Inovio Pharmaceuticals by 5,943.0% in the 2nd quarter. Rhumbline Advisers now owns 38,494 shares of the biopharmaceutical company's stock valued at $311,000 after purchasing an additional 37,857 shares during the last quarter. American Century Companies Inc. increased its holdings in Inovio Pharmaceuticals by 62.2% in the 2nd quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company's stock valued at $255,000 after purchasing an additional 12,100 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $184,000. Institutional investors and hedge funds 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.