UPDATE: Aegis Capital Initiates Coverage on Inovio Pharmaceuticals with Buy Rating, $1.50 PT on Very Strong Potential

In a report published Monday, Aegis Capital initiated coverage on Inovio Pharmaceuticals

with a Buy rating and $1.50 price target. Aegis Capital noted, “We are initiating coverage of Inovio Pharmaceuticals, Inc. with a Buy rating and a 12-month price target of $1.50 per share. In our view, Inovio is a highly diversified developer of differentiated DNA-based vaccines, which could represent novel and highly effective ways to treat various inflammatory, oncology-focused and infectious disorders. Our price target is derived from a comparable universe-based valuation methodology, which forecasts a total enterprise value of roughly $250mm based on the average valuations of comparable companies in the infectious disease and oncology arenas.” Inovio Pharmaceuticals closed on Friday at $0.54.