Oppenheimer upgrades Inovio to Outperform on INO-3107 potential

Oppenheimer upgraded Inovio Pharmaceuticals to Outperform from Perform with a $4 price target after hosting a call with a key opinion leader in recurrent respiratory papillomatosis and members of the the company’s management team. The disease burden and complications from relentless surgery on RRP patients was highlighted on call, and the key opinion leader felt that adjuvant therapies like INO-3107, with favorable Phase 1/2 data, are needed, the analyst tells investors in a research note. The firm believes INO-3107 “is of consequential value to the RRP community.” Opco thinks Inovio could be a commercial company in 2025 given the high unmet need for RRP patients.