Inovio Pharma (INO): Cutting PT to $13 - HC Wainwright

November 10, 2016 8:20 AM EST
Get Alerts INO Hot Sheet
Price: $6.28 -4.56%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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H.C. Wainwright analyst, Raghuram Selvaraju, reiterated his Buy rating on shares of Inovio Pharmaceuticals (NASDAQ: INO) after the company reported its 3Q16 financial results. Total revenue was $12.5M, and net loss was $20.8M during the quarter, or ($0.28) per share. Management indicated that they are still waiting for the formal letter from the FDA regarding the clinical hold on the Phase 3 pivotal study of VGX-3100 for the treatment of HPV-16/18-related highgrade cervical dysplasia, which has not been started yet.

Management expects to complete the FDA requirement regarding additional data on the shelf-life of the disposal part of the Cellectra® 5PSP delivery device in 1Q17. The Phase 3 study should then be cleared to start shortly thereafter.

The $13 price target drops from $17 but no change to the Buy rating.

For an analyst ratings summary and ratings history on Inovio Pharmaceuticals click here. For more ratings news on Inovio Pharmaceuticals click here.

Shares of Inovio Pharmaceuticals closed at $7.43 yesterday.

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