Inovio Pharma (INO) Misses Q2 EPS by 5c
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August 9, 2016 6:49 AM EDT
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
August 8, 2016 11:31 AM EDT
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
