Inovio price target lowered to $5 from $6 at RBC Capital

RBC Capital lowered the firm’s price target on Inovio (INO) to $5 from $6 and keeps a Sector Perform rating on the shares. The company continues to drive steady advancement of its diverse pipeline in the background, but attention remains squarely on the RRP opportunity, commercial setup, and Inovio’s ability to execute, the analyst tells investors in a research note. RBC adds however that its reduced price target reflects the one-year cash runway for 3107’s critical though risky path.