HC Wainwright Has Optimistic Outlook of INO FY2024 Earnings

Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Free Report) - Equities researchers at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for shares of Inovio Pharmaceuticals in a research note issued to investors on Monday, November 18th. HC Wainwright analyst R. Selvaraju now anticipates that the biopharmaceutical company will earn ($4.39) per share for the year, up from their prior forecast of ($4.64). HC Wainwright currently has a "Neutral" rating and a $5.00 target price on the stock. The consensus estimate for Inovio Pharmaceuticals' current full-year earnings is ($4.68) per share. HC Wainwright also issued estimates for Inovio Pharmaceuticals' Q4 2024 earnings at ($1.03) EPS, Q1 2025 earnings at ($1.08) EPS, Q2 2025 earnings at ($0.90) EPS, Q3 2025 earnings at ($0.78) EPS, Q4 2025 earnings at ($0.68) EPS and FY2025 earnings at ($3.35) EPS.

Other research analysts have also issued research reports about the stock. Oppenheimer reduced their price objective on shares of Inovio Pharmaceuticals from $33.00 to $15.00 and set an "outperform" rating on the stock in a research note on Monday. Royal Bank of Canada cut 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 report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Inovio Pharmaceuticals has an average rating of "Hold" and a consensus target price of $38.00.

Inovio Pharmaceuticals Stock Performance

INO remained flat at $4.03 during midday trading on Wednesday. The company's stock had a trading volume of 182,949 shares, compared to its average volume of 403,159. Inovio Pharmaceuticals has a 12-month low of $3.85 and a 12-month high of $14.75. The company's 50 day simple moving average is $5.66 and its 200-day simple moving average is $8.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted 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 during the period. SG Americas Securities LLC acquired a new position in shares of Inovio Pharmaceuticals during the third quarter worth about $71,000. The Manufacturers Life Insurance Company bought a new position in shares of Inovio Pharmaceuticals during the second quarter worth about $82,000. Signature Estate & Investment Advisors LLC acquired a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $88,000. Finally, MetLife Investment Management LLC lifted its stake in Inovio Pharmaceuticals by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company's stock valued at $88,000 after acquiring an additional 8,546 shares in the last quarter. Institutional investors and hedge funds own 26.79% of the company's stock.

Inovio Pharmaceuticals Company Profile

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.