5 Stocks That Will Benefit From the Coronavirus - 2 of 5

#2 - Inovio (NASDAQ:INO)

Inovio Pharmaceuticals (NASDAQ:INO) was one of the first companies to announce a potential vaccine to treat the Covid-19 virus. Initially, investors cheered the news and sent the stock soaring nearly 70% between January 24 and January 27. However, investors (or maybe it’s better to say trader) enthusiasm waned when reality set in.

The reality in the case of Inovio is that, at that time, it appeared any vaccine would not be available until the end of 2020, at least. And by the time vaccines get into the mass production stage, it was not clear that Inovio would be chosen to produce the vaccine.

To that end, on March 3, the company announced it was accelerating its timeline for developing a vaccine to treat the coronavirus. Inovio Chief Executive Dr. J. Joseph Kim detailed the company’s plans at a meeting with the Coronavirus Task Force that took place at the White House. Said Kim, “We immediately began preclinical testing and small-scale manufacture, and have already shared robust preclinical data with our public and private partners. We plan to begin human clinical trials in the U.S. in April and soon thereafter in China and South Korea, where the outbreak is impacting the most people.”

Inovio is now expected to deliver one million doses of the vaccine by the end of 2020. Shares of INO stock climbed 25% before the market opened on March 3 and are now up 73% in the last three months.

About Inovio Pharmaceuticals

Current Price

$4.07

Consensus Rating

Moderate Buy

Ratings Breakdown

3 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.

Consensus Price Target

$38.00 (833.7% Upside)