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In the last three months, INO has pulled in more than 181% returns. For 2020, Inovio (INO) investors have seen 233.33% returns.
Inovio Pharmaceuticals Inc (NASDAQ: INO) is one of the most debated biotech companies involved in the development of the COVID-19 vaccine. Inovio (INO) stock is under close observation as well. Sometimes, INO shares see downs, but these declines have no issue with “Mad Money” host Jim Cramer who believes Inovio stock is like a “rocket ship”.
On May 15, Inovio stock lost 1.61% in price to close at $13.43, after hours it declined to $13.30. In the pre-market today, INO shares have plummeted further. But at the moment of writing, INO stock makes up $13.74 per share, which is 2.31% up from the previous close. Inovio began the year at $3.21, and its annual change has already made as much as 306.97%. The market cap is $2.12 billion as of May 15.
In the last three months, INO has pulled in more than 181% returns. For 2020, INO’s investors have seen 233.33% returns. While the company has not been profitable since its IPO, now might be a great time for people to earn from INO.
Jim Cramer: Inovio Is a Rocket Ship
On CNBC’s “Mad Money Lightning Round,” Jim Cramer shared his opinion on the performance of some stocks, among them was Inovio. As Cramer said, INO shares are like a rocket ship, and if he bought Inovio stock a couple of weeks ago, he would take some profit.
Besides, Cramer compared tech stocks like Raytheon (NYSE: RTN) and Caterpillar Inc (NYSE: CAT) and said he would steer clear of buying the latter as it seems to be going into a recession. Further, Cramer preferred Fortinet Inc (NASDAQ: FTNT) to FireEye Inc (NASDAQ: FEYE) as the latter has not been a good market player this year.
Cramer would also forgo buying Jacobs Engineering Group Inc (NASDAQ: J) and Euronav NV (NYSE: EURN) stocks. Both of them are suffering because of the economic crisis.
Inovio’s Relative Stability in Figures
Recently, Inovio reported its fiscal Q1 earnings and beat analysts’ expectations. Inovio reported a first-quarter loss of 26 cents a share on revenue of $1.3 million. As FactSet predicted, the loss would be 22 cents a share, on sales of $1.9 million. In comparison, in the same period a year ago, Inovio posted a loss of 30 cents a share on sales of $2.8 million.
Since its inception, Inovio saw assembled losses of approximately $739.8 million. Since there is no commercial product in its portfolio, Inovio develops revenues mostly from licensing, grant funding, and interest income. Its Q1 earnings report is quite underwhelming but shows relative stability in Inovio’s performance. Besides, Inovio shows promise in the development of the coronavirus vaccine. And this progress has obviously more impact on INO stock than financial results. But even if its vaccine fails, Inovio has a strong balance sheet and a capital to operate for “multi-years”.