Inovio Pharmaceuticals, Biogen, Guess? Downgraded

Analysts are weighing in on drug stocks Inovio Pharmaceuticals Inc (NASDAQ:INO) and Biogen Inc (NASDAQ:BIIB), as well as apparel retailer Guess?, Inc. (NYSE:GES). Here's a quick roundup of today's bearish brokerage notes on INO, BIIB, and GES shares.

Inovio Sinks After Fourth-Quarter Results

INO is down 8.7% this morning at $6.27, following the company's fourth-quarter earnings release. Analysts have had mixed reactions, with Piper Jaffray downgrading the shares to "neutral" from "overweight" and cutting its price target to $9 from $13, while Maxim raised its opinion to "buy" from "hold." It's been a lackluster year for Inovio Pharmaceuticals Inc stock, with the shares grinding lower since their high of $11.69 from last April. These struggles are just fine with short sellers, though, since they currently control 14.8% of INO's total float. 

Downgrades Hit Biogen Stock 

Bearish notes out of Morgan Stanley and Leerink have BIIB stock down 4.5% today at $279.39. The former firm downgraded the shares to "equal weight" from "overweight," cutting its price target to $305 from $369, saying the decision "is not a downside call, but a timing call." Leerink, meanwhile, cut Biogen Inc to "market perform" from "outperform," and lowered its price target by $5 to $300, citing limited catalysts and increasing competition. While BIIB shares still sport a 23% year-over-year gain, they're on pace to close below their 20-day moving average for the first time since Feb. 1, due to a recent round of bearish analyst attention. 

Guess? Continues Long-Term Downtrend After Earnings

GES hit an eight-year low of $10.29 out of the gate, and was last seen 18.5% lower at $11.20, after the company failed to meet Wall Street's fourth-quarter earnings expectations. At least five price-target cuts have since come through, with the lowest target of $9 coming from Mizuho. Guess?, Inc. has been trending lower for several years now, and short sellers continue to bet against the struggling retail stock. After increasing 22% in the last two reporting periods, short interest on Guess stock now represents roughly one-fifth of its available float.