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Fly News Breaks for January 10, 2020
INO
Jan 10, 2020 | 05:17 EDT
Piper Sandler analyst Christopher Raymond is "incrementally positive" on Inovio Pharmaceuticals shares after hosting management meetings. While recent execution and timeline adherence "has been a work in progress," the stock reflects very little value attribution from the company's broad developmental effort, Raymond tells investors in a research note. The analyst expects at least four data events/catalysts this year and thinks the Street is either not aware of or not anticipating these to be positive events. "Any inkling" of proof of concept this year from any program could result in significant upside to the stock, says Raymond, who notes his $8 price target assumes success from just one program, Inovio's VGX-3100 for cervical dysplasia. The analyst keeps an Overweight rating on Inovio.
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