Shares of Inovio Pharmaceuticals (NASDAQ: INO) declined on Tuesday after investment bank Roth Capital Partners released a bearish report on the biotechnology company. As of 12:45 p.m. EST, Inovio's stock was down 8.5%.
Roth Capital analyst Jonathan Aschoff slashed his rating on Inovio from neutral to sell. He sees its share price falling more than 30% to $8 amid intensifying competition from the likes of Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA).
Inovio shareholders could suffer steep losses, according to a Roth Capital analyst. Image source: Getty Images.
Source Fool.com