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