Piper Affirms Inovio Pharma (INO) at 'Overweight' Amid Increasingly Visible Clinical Progress
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your 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
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target on Northrop Grumman (NOC) Following 3Q Beat
- Jefferies Cuts Price Target on VCA Antech (WOOF) Following 3Q Miss
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!