On Wednesday, Oppenheimer adjusted its price target for Inovio Pharmaceuticals (NASDAQ:INO) shares, reducing it to $13.00 from the previous $15.00, while maintaining an Outperform rating for the company. Currently trading at $1.92, the stock sits well below its 52-week high of $13.44. Inovio Pharmaceuticals reported first-quarter financial results for 2025, which included operating expenses of $25.1 million and a cash balance of $68.4 million. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, with a current ratio of 2.63. The current funds are expected to sustain the company’s operations into the first quarter of 2026.
The company is proceeding as planned with its rolling Biologics License Application (BLA) submission for INO-3107, which is anticipated to begin in mid-2025. Completion of the filing is expected in the second half of 2025, potentially leading to approval by mid-2026, assuming a priority review is granted. The analyst expressed optimism regarding INO-3107’s commercial prospects, highlighting its potential advantages over competing treatments in real-world applications. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels, though investors should note that analysts don’t expect profitability this year.
Inovio’s pipeline includes several other promising candidates, such as INO-3112 for oropharyngeal squamous cell carcinoma (OPSCC), INO-5401 for glioblastoma multiforme (GBM), and an emerging DNA-encoded monoclonal antibody (DMab) program. These diverse projects provide the company with various opportunities for growth and success in the biopharmaceutical field. Despite the promising pipeline, InvestingPro data reveals the company’s Financial Health Score stands at 1.91, rated as ’FAIR’, with detailed analysis available in the Pro Research Report.
The revised price target of $13 reflects updates to Oppenheimer’s financial model for Inovio, incorporating actual performance figures and adjustments. Despite the lowered price target, the firm’s positive outlook on the stock remains unchanged, as evidenced by the continued Outperform rating. The stock has shown recent momentum with a 9% gain over the past week, though it remains down nearly 60% over the past six months.
In other recent news, Inovio Pharmaceuticals reported its first-quarter results for 2025, showcasing a narrowed net loss of $19.7 million compared to $30.5 million in the same period last year. This improvement was largely due to a 20% reduction in operating expenses. The company ended the quarter with $68 million in cash and projects its financial runway to extend into the first quarter of 2026. Inovio is also on track to submit its Biologics License Application (BLA) for INO-3107, a treatment for recurrent respiratory papillomatosis, by the end of the year. JMP Securities has maintained a Market Outperform rating for Inovio, with a price target of $12.00, and noted the company’s stable communications with the FDA. The potential for INO-3107 to receive priority review was highlighted, given its Breakthrough Therapy designation. Additionally, Inovio’s strategic focus includes exploring potential partnerships outside the US to expand its market reach. The company’s ongoing efforts in advancing its DNA-encoded monoclonal antibody technology were also emphasized, with promising interim results from a Phase 1 trial.
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