Mizuho Reiterates “Buy” Rating for Iovance Biotherapeutics (NASDAQ:IOVA)

Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “buy” rating reiterated by investment analysts at Mizuho in a research report issued on Friday, Benzinga reports. They currently have a $30.00 price objective on the biotechnology company’s stock. Mizuho’s price objective suggests a potential upside of 469.26% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus cut their target price on shares of Iovance Biotherapeutics from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company upgraded shares of Iovance Biotherapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $11.00 to $17.00 in a research note on Tuesday, May 30th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research note on Friday, September 8th. Truist Financial reiterated a “buy” rating and issued a $17.00 target price on shares of Iovance Biotherapeutics in a research note on Friday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $18.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Iovance Biotherapeutics Stock Up 13.5 %

NASDAQ:IOVA opened at $5.27 on Friday. Iovance Biotherapeutics has a 12-month low of $4.41 and a 12-month high of $11.74. The firm has a market capitalization of $1.31 billion, a PE ratio of -2.35 and a beta of 0.10. The firm has a 50-day moving average price of $6.80 and a 200 day moving average price of $6.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.34. The business had revenue of $0.24 million during the quarter, compared to analyst estimates of $3.91 million. During the same period last year, the company earned ($0.63) EPS. On average, research analysts expect that Iovance Biotherapeutics will post -1.87 EPS for the current year.

Insiders Place Their Bets

In other Iovance Biotherapeutics news, Director Wayne P. Rothbaum bought 5,000,000 shares of the stock in a transaction on Friday, September 15th. The stock was purchased at an average price of $5.30 per share, with a total value of $26,500,000.00. Following the acquisition, the director now owns 23,067,333 shares of the company’s stock, valued at $122,256,864.90. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.40% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its holdings in Iovance Biotherapeutics by 47.2% during the 2nd quarter. California State Teachers Retirement System now owns 235,573 shares of the biotechnology company’s stock worth $1,658,000 after acquiring an additional 75,519 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Iovance Biotherapeutics by 3.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,229,281 shares of the biotechnology company’s stock valued at $15,694,000 after buying an additional 73,739 shares during the period. GTS Securities LLC acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $440,000. Wells Fargo & Company MN grew its holdings in shares of Iovance Biotherapeutics by 52.5% in the 2nd quarter. Wells Fargo & Company MN now owns 377,970 shares of the biotechnology company’s stock valued at $2,661,000 after buying an additional 130,053 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $2,793,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Iovance Biotherapeutics Company Profile

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. The company's lead product candidate is lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.