Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $23.00

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $22.33.

Several brokerages have recently issued reports on IOVA. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $10.00 in a research note on Monday, July 29th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Finally, UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday. They set a “buy” rating and a $17.00 price objective on the stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $32,000. Quest Partners LLC boosted its stake in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 4,629 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Iovance Biotherapeutics during the 1st quarter valued at $87,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth $58,000. Finally, Daiwa Securities Group Inc. raised its holdings in Iovance Biotherapeutics by 754.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 7,781 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 1.0 %

Iovance Biotherapeutics stock opened at $10.67 on Friday. The stock’s 50 day moving average is $10.25 and its 200 day moving average is $9.89. The company has a market capitalization of $2.99 billion, a P/E ratio of -5.93 and a beta of 0.62. Iovance Biotherapeutics has a twelve month low of $3.47 and a twelve month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The company’s revenue was up 12969.7% on a year-over-year basis. During the same period last year, the company earned ($0.47) earnings per share. As a group, equities analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.