Inovio Pharmaceuticals shares are trading higher after the company announced a clinical collaboration and supply agreement with Coherus Biosciences to advance development of INO-3112 and LOQTORZI. Also, JMP Securities initiated coverage on the stock with a Market Outperform rating and announced a $1 price target.
Portfolio Pulse from Benzinga Newsdesk
Inovio Pharmaceuticals' stock is up following the announcement of a clinical collaboration and supply agreement with Coherus Biosciences for INO-3112 and LOQTORZI. Additionally, JMP Securities initiated coverage on Inovio with a Market Outperform rating and a price target of $1.
January 04, 2024 | 5:18 pm
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POSITIVE IMPACT
Coherus Biosciences enters a clinical collaboration and supply agreement with Inovio Pharmaceuticals to advance INO-3112 and LOQTORZI, which may positively impact its stock.
The agreement with Inovio Pharmaceuticals to develop INO-3112 and LOQTORZI could be seen as a strategic move for Coherus Biosciences, potentially leading to future revenue streams and positive market sentiment. This collaboration might attract investor interest and could have a favorable short-term impact on Coherus' stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Inovio Pharmaceuticals' shares are up after announcing a partnership with Coherus Biosciences and receiving a Market Outperform rating with a $1 price target from JMP Securities.
The collaboration with Coherus Biosciences for INO-3112 and LOQTORZI is likely to be viewed positively by investors as it could accelerate development and enhance market potential. The initiation of coverage by JMP Securities with a Market Outperform rating and a $1 price target further boosts investor confidence, suggesting a positive short-term impact on Inovio's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100