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RBC Capital Lowers Inovio Price Target As It Awaits This

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Vandana Singh
·1 min read
In this article:
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  • INO
    Watchlist
  • RY

  • RBC Capital Markets has lowered the price target on Inovio Pharmaceuticals Inc (NASDAQ: INO) to $4 from $5 with a Sector Perform rating.

  • The analysts updated the model to reflect the evolution of the programs to date and as new leadership gained traction since the CEO change in May.

  • With the CEO transition in conjunction with a new CMO hire, INO-4800’s heterologous booster strategy, VGX-3100’s continued development, and INO-5401 data at ASCO 2022 last month, RBC awaits a more attractive entry point and a clearer path for value creation.

  • Related: Inovio Lays Out Corporate Reorganization To Extend Cash Runway Into 2024.

  • At ASCO 2022, INO presented data on INO-5401 in combination with INO-9012 and Libtayo for newly diagnosed glioblastoma (GBM), with a median overall survival (OS) of 17.9 months and 32.5 months, for Cohort A (unmethylated MGMT) and Cohort B (MGMT methylated) patients, respectively.

  • Overall, the treatment was also well tolerated.

  • The analysts anticipate an update on INO-5401 in 2022 for the next steps towards a regulatory pathway to approval in the combination regimen.

  • RBC views topline data of INO-3107 from Phase 1/2 trial from recurrent respiratory papillomatosis patients as an increasingly important program as value potential embedded in other historically emphasized programs peels away from INO’s core.

  • Price Action: INO shares are up 5.71% at $1.95 during the market session on the last check Tuesday.

Latest Ratings for INO

Date

Firm

Action

From

To

Mar 2022

RBC Capital

Maintains

Sector Perform

Jan 2022

B of A Securities

Upgrades

Underperform

Neutral

Nov 2021

RBC Capital

Maintains

Sector Perform

View More Analyst Ratings for INO

View the Latest Analyst Ratings

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