Inovio shares rise to extend rally to 20-year high, while Stifel says price is now ‘less palatable’

Shares of Inovio Pharmaceuticals Inc. INO,
7.5% was recovered in premarket operations on Friday, to extend its recent rocket launch to a maximum of 20 years, even as the biotech company was downgraded in Stifel Nicolaus over valuation concerns. The stock is up 119% amid a four-day streak to close on Thursday at the highest price since September 2000, and it has shot up more than 9 times (up to 847%) to date: the S&P 500 SPX ,
It has lost 4.6% this year, as the company has a candidate for the COVID-19 vaccine in phase 1 trials. Stifel analyst Stephan Willey raised its stock price target from $ 19 to $ 24, but downgraded to keep it after having been buying for at least the past 3.5 years, saying the risk versus reward investment scenario “seems less acceptable” at current prices. “While acknowledgment of the peer COVID-19 vaccine companies’ evaluations would suggest that we are potentially leaving a significant advantage on the table if promising immunogenicity data (ie, robust neutralizing antibody responses) are promised and a Great government written control, we also believe that any potential downside risk in the absence of the aforementioned events occurring is equally significant, “Willey wrote in a note to clients.