UPDATE: Brean Capital Assumes Inovio Pharmaceuticals (INO) at Buy

(Updated - October 4, 2016 10:12 AM EDT)

Brean Capital assumed coverage on Inovio Pharmaceuticals (NASDAQ: INO) with a Buy rating and a price target of $18.

Analyst Jason Wittes said, "Inovio Pharmaceuticals, Inc., a market leader in DNA-based immunotherapy, is developing a variety of synthetic DNA plasmids delivered through its proprietary intradermal electroporation system, which has been shown to enhance DNA uptake and lead to more robust immune responses (Hutnick NA, et al., 2012; Diehl MC, et al., 2013) versus simple injection. The company is entering Phase III with its VGX-3100 for HPV-related pre-cancers/ cervical dysplasia. In addition, the company has a large portfolio of cancer immune therapies including head & neck and prostate (INO-5150 PSMA and PSA), both of which will read out Phase I data in Q4. In addition, the company has an attractive, externally funded, vaccine development portfolio. This includes a Zika vaccine, which is enrolling in a Phase II trial and will read out its 40-patient Phase I data in 4Q16. The majority of these trials are externally funded (see exhibit for full details). We value the stock at $18, based on a sum of the parts."

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 $9.52 yesterday.

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