Not all experts are bearish on Inovios stock, however. On the very same day that Willey cut his rating to hold, Cantor Fitzgerald analyst Charles Duncan repeated his “overweight” ranking on Inovios shares and increased his target rate from $17 to $45. After studying the companys scientific programs and conference with management, Duncan came away with a more bullish view of Inovios vaccine development potential..
As is frequently the case with early-stage biotech companies, experts can have far various views. Ultimately, investors will require to decide on their own whether theyre bearish or bullish on Inovios future potential customers.
Although Willey did raise his target cost for Inovios stock from $19 to $24, his new price projection represents potential drawback of 20% based upon Inovios closing rate of $29.98 on Friday.
” While acknowledging peer COVID-19 vaccine company assessments would recommend were potentially leaving substantial advantage on the table, should guaranteeing immunogenicity information (i.e. robust reducing the effects of antibody response) and a large government-written check subsequently emerge, we likewise think any prospective disadvantage threat in the absence of the abovementioned events occurring is equally considerable,” Willey stated..
The bulls and bears are fighting over Inovios shares. Image source: Getty Images.
Shares of Inovio Pharmaceuticals (NASDAQ: INO) decreased on Friday after financial investment bank Stifel cut its score on the biotech stock..
Stifel expert Stephen Willey decreased his score on Inovios shares from buy to hold. Willey thinks that after the stocks unbelievable gains in 2020– the stock is up an incredible 797% so far this year– the risk-to-reward formula for investors is now “less palatable.”.