INO Stock Price: Inovio Pharmaceuticals Inc. crashes after sharp analyst downgrade


  • NASDAQ:INO plummets over 15% during Thursday’s trading session.
  • Shares corrected after surging over 80% last week after a presentation on its proposed COVID-19 vaccine.
  • Roth Capital analyst gives severe downgrade to the stock.

NASDAQ:INO investors have been taken for quite the ride over the past two weeks with shares peaking at $18.50 while also bottoming out in the single digits. The catalyst for the recent spike was a presentation that the pharmaceutical company released for investors about the potential of its new coronavirus vaccine candidate INO-4800. While the promotional video seemed to strike the right note with investors, Wall Street analysts remained skeptical. Shares are still up over 650% over the past 52-weeks but investors have to wonder if the stock has gained as much as it will for the time being.

Roth Capital analyst Jonathan Aschoff did not mix his words when he gave a severe downgrade of $11 to Inovio’s price target and doubled down on his sell rating for the biotech firm. Aschoff affirms that INO-4800 has “virtually no chance” of winning the Operation Warp Speed race and had just as little optimism for Inovio’s HPV cancer treatment, VGX-3100, as well. After Aschoff’s downgrade, shares tumbled showing just how much power these analysts have over the price of company stocks

INO stock news

INO stock price chart

Whether or not Aschoff’s claims are warranted it seems as though investors are buying into the analyst’s downgrade. The more damning thing about INO-4800 could be that the vaccine candidate is still in Phase 1 of its clinical trials whereas vaccine candidates from other companies like AstraZeneca (NYSE:AZN), Moderna (NASDAQ:MRNA), and Pfizer (NYSE:PFE) are all in at least Phase 3 of their respective trials. This means that the timeline for an actual vaccine may still more than a year off as rival firms bring their vaccines to market. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.

EUR/USD News

GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.

GBP/USD News

XAU/USD pares early gains, turns flat near $1,900

For the third straight trading day on Tuesday, the XAU/USD pair is moving sideways above $1,900 as participants wait for the next significant catalyst. After climbing to a daily high of $1,910 earlier in the day, the pair lost its traction and was last seen trading virtually unchanged on the day at $1,902.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures