The Inovio Analyst
Jonathan Aschoff downgraded Inovio stock from Buy to Neutral and maintained a $13 price target.The Inovio Thesis
Inovio Pharmaceuticals’ share count will rise by over 10 million shares with its at-the-market capital offering of $150 million, Aschoff said in the Thursday downgrade note. (See his track record here.)The company has announced solid interim results for its MERS vaccine INO-4700 and is scheduled to present details at the ASGCT conference in mid-May, the analyst said. Yet there are several drug makers, many of which are much larger than Inovio and have global commercial operations, that are working aggressively on COVID-19 therapies, he said.
It may take more than just positive clinical data to “come out among the group that materially benefits from treating the world against this virus,” Aschoff said.
https://www.benzinga.com/analyst-ratings/analyst-color/20/04/15923041/roth-downgrades-inovio-on-valuation-despite-positive-mers-vaccine-data
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