Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $31.82 Average Target Price from Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Rating) has received an average rating of “Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $31.82.

Several equities research analysts recently issued reports on the company. StockNews.com assumed coverage on Iovance Biotherapeutics in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Stifel Nicolaus raised Iovance Biotherapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $23.00 to $25.00 in a research report on Friday, January 28th. Truist Financial dropped their price target on Iovance Biotherapeutics from $32.00 to $29.00 in a research report on Thursday, April 7th. Robert W. Baird upped their price objective on Iovance Biotherapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, April 7th. Finally, Chardan Capital lowered their price objective on Iovance Biotherapeutics from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 25th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI purchased a new stake in shares of Iovance Biotherapeutics during the first quarter valued at $12,537,000. Rice Hall James & Associates LLC lifted its stake in Iovance Biotherapeutics by 71.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock worth $18,067,000 after acquiring an additional 453,337 shares in the last quarter. Pictet & Cie Europe SA lifted its stake in Iovance Biotherapeutics by 11.6% in the 1st quarter. Pictet & Cie Europe SA now owns 27,882 shares of the biotechnology company’s stock worth $464,000 after acquiring an additional 2,893 shares in the last quarter. Banque Pictet & Cie SA lifted its stake in Iovance Biotherapeutics by 0.3% in the 1st quarter. Banque Pictet & Cie SA now owns 535,770 shares of the biotechnology company’s stock worth $8,921,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Iovance Biotherapeutics by 17.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 2,099 shares in the last quarter. 99.07% of the stock is owned by institutional investors and hedge funds.

Shares of IOVA opened at $14.83 on Tuesday. The business’s 50 day moving average is $15.80 and its two-hundred day moving average is $17.65. Iovance Biotherapeutics has a 52-week low of $12.18 and a 52-week high of $30.82. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -6.68 and a beta of 0.86.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.06. The business had revenue of $12.00 million during the quarter. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) earnings per share. On average, analysts anticipate that Iovance Biotherapeutics will post -2.64 earnings per share for the current year.

Iovance Biotherapeutics Company Profile (Get Rating)

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

Read More