Inovio Pharma (INO) Misses Q2 EPS by 5c

Maxim Group Downgrades Inovio Pharmaceuticals (INO) to Hold

Maxim Group downgraded Inovio Pharmaceuticals (NASDAQ: INO) from Buy to Hold, citing few drivers near-term for upside.

Analyst Jason McCarthy commented:

Inovio reported 2Q16 earnings (*next bullet). What's critical now is the fact that Inovio is burning up to $100M a year, in our view. We recognize Inovio does have revenues that partially offset the burn rate. These include license fees like the one paid upfront by AstraZenca ($27M) for the VGX-3100 technology (in this case INO-3112). We believe in Inovio's platform and technology, but the key challenge that we... More

Piper Affirms Inovio Pharma (INO) at 'Overweight' Amid Increasingly Visible Clinical Progress

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... More