Piper Affirms Inovio Pharma (INO) at 'Overweight' Amid Increasingly Visible Clinical Progress
- Wall St. edges higher as earnings kick into high gear
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
- Pre-Open Stock Movers 01/24: (MPSX) (IIVI) (AKS) Higher; (FSM) (OCUL) (VZ) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Piper Jaffray affirms Inovio Pharma (NASDAQ: INO) with an Overweight rating and $31 price target following Q2 results reported earlier Monday.
Analyst Charles Duncan summarized:
Today Inovio reported 2Q16 financials, ending the quarter with $134.5M in cash. We project this cash will fund pipeline progress through 1H18, inclusive of significant progress on the soon-to-start Phase III in cervical dysplasia and advancement to late-stage trials for a broadening set of infectious disease and oncology programs including Zika, MERS, cervical cancer (with MedImmune), and potentially other tumors. Next up in 2016, our focus is on CD Phase III study design details, which we anticipate to be risk-reduced by similarities to the successful Phase IIb and to increase visibility on the path (time, capital requirements) to market for this lead program. We could also see 4Q value creation by data from Inovio’s Phase I, but high-profile Zika program, as well as Phase I’s in MERS, prostate and H&N cancer. In advance of increasingly visible clinical progress expected across the platform over the next 12 months, we reiterate OW.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bank of Marin Bancorp (BMRC) PT Raised to $70 at FIG Partners Following 4Q Report
- American International Group (AIG) PT Lowered to $69 at UBS
- Jefferies Downgrades NantKwest (NK) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesPiper Jaffray, Charles Duncan
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!