Rich first profiled Inovio Pharmaceuticals Inc. (NASDAQ:INO) just before it exploded in early March. The pharma stock went from $4.39 to $14.09 over the course of just one week, though it didn’t stay there for long. INO shares hovered between $7.00 and $8.00 for the rest of the month as the company slowly advanced its potential COVID-19 vaccine candidate.
This month, however, things really started to take off. INO entered April at $7.70 and has consistently gained value since then. Today, it’s trading at $14.83 and continues to trend upward.
“Inovio is secretly killing it,” says Rich, in regards to the stock’s subtle but consistent gains. “I think Inovio is a pharma stock is one that everybody should be looking at. It might be too late to get in now, but they’ve been doing extremely well, and could go higher.”
Inovio Pharmaceuticals CEO Says Vaccine Could Be Ready in 12-18 Months
The company’s potential COVID-19 vaccine, INO-4800, recently entered phase 1 clinical trials. This will involve up to 40 healthy adults, who will each receive two doses of the vaccine four weeks apart. The goals are to test the vaccine’s safety, as well as its ability to trigger an immune response in the body. Inovio expects data from this trial by late summer.
Following that, CEO Joseph Kim recently stated that it’s possible to meet the timeline of 12 to 18 months for a novel coronavirus (COVID-19) vaccine. This timeline was originally suggested by White House Coronavirus Task Force leader Dr. Anthony Fauci.
It’s worth noting, though, that INO remains a risky play. Though its vaccine candidate is making progress, it’s racing some major players like Johnson & Johnson (NYSE:JNJ) and Pfizer Inc. (NYSE:PFE), and could fall behind them. In addition, the company has no approved products on the market.
Inovio Pharmaceuticals has put all their eggs into the COVID-19 basket. Will it pay off?
INO Receives Consensus “Buy” Rating from Analysts
Analysts at HC Wainwright, Maxim Group, and Stifel Nicolaus have all awarded INO a “buy” rating in the last two months. While some analysts are beginning to return “hold” recommendations, the overall outlook for this pharma stock remains bullish.
What do you think? Is Inovio Pharmaceuticals at a ceiling, or could it continue to go higher? Let us know your thoughts!
Featured image: DepositPhotos © 18percentgrey