Shares of Inovio Pharmaceuticals (NASDAQ: INO) declined on Friday after investment bank Stifel cut its rating on the biotech stock.
Stifel analyst Stephen Willey reduced his rating on Inovio's shares from buy to hold. Willey believes that after the stock's incredible gains in 2020 -- the stock is up a staggering 797% so far this year -- the risk-to-reward equation for investors is now "less palatable."
The bears and bulls are battling over Inovio's shares. Image source: Getty Images.
Source Fool.com