Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Increased to $23.00 by Analysts at Robert W. Baird

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) had its price target raised by Robert W. Baird from $20.00 to $23.00 in a research report report published on Tuesday, The Fly reports.

Several other equities research analysts have also recently issued reports on IOVA. HC Wainwright reaffirmed a buy rating and set a $38.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, March 1st. Truist Financial boosted their price target on shares of Iovance Biotherapeutics from $16.00 to $17.00 and gave the stock a buy rating in a research note on Tuesday, January 24th. Oppenheimer lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set an outperform rating for the company in a report on Wednesday, March 1st. StockNews.com upgraded Iovance Biotherapeutics from a sell rating to a hold rating in a research note on Friday, May 12th. Finally, Piper Sandler upgraded Iovance Biotherapeutics from a neutral rating to an overweight rating and increased their price objective for the stock from $11.00 to $14.00 in a research report on Friday, January 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $18.00.

Iovance Biotherapeutics Trading Up 13.4 %

IOVA opened at $9.06 on Tuesday. Iovance Biotherapeutics has a 12-month low of $5.28 and a 12-month high of $15.63. The firm has a market capitalization of $2.03 billion, a PE ratio of -3.77 and a beta of 0.20. The firm has a 50 day moving average of $6.39 and a two-hundred day moving average of $6.75.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.34. During the same quarter in the previous year, the business earned ($0.58) EPS. As a group, analysts predict that Iovance Biotherapeutics will post -2.55 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in the business. MHR Fund Management LLC bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $76,661,000. Perceptive Advisors LLC increased its holdings in Iovance Biotherapeutics by 53.8% during the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock worth $93,726,000 after purchasing an additional 5,367,955 shares in the last quarter. State Street Corp boosted its stake in shares of Iovance Biotherapeutics by 71.9% in the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after buying an additional 4,925,025 shares during the last quarter. Morgan Stanley lifted its stake in Iovance Biotherapeutics by 374.2% in the fourth quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock valued at $31,757,000 after purchasing an additional 3,921,869 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $19,009,000. 96.78% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

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Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.