UPDATE: Stifel Downgrades Inovio Pharmaceuticals (INO) to Hold

(updating comment)

Stifel analyst Stephen Willey downgraded Inovio Pharmaceuticals (NASDAQ: INO) from Buy to Hold with a price target of $24.00 (from $19.00).

The analyst comments "While acknowledging peer COVID-19 vaccine company valuations would suggest we’re potentially leaving significant upside on the table should promising immunogenicity data (i.e. robust neutralizing antibody responses) and a large government-written check subsequently materialize, we also believe any potential downside risk in the absence of the aforementioned events occurring is equally-significant. Estimates remain largely-unchanged. Target to $24 on improved risk/discount-rate assumptions."

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 $31.25 yesterday.

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