Iovance Biotherapeutics (NASDAQ:IOVA) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note published on Tuesday,Benzinga reports. HC Wainwright currently has a $20.00 target price on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the company. UBS Group cut Iovance Biotherapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $17.00 to $2.00 in a report on Friday, May 16th. Wells Fargo & Company lowered their price target on Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Truist Financial cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Citizens Jmp cut Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, May 9th. Finally, Barclays reduced their price objective on Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics currently has an average rating of “Hold” and a consensus target price of $11.90.

Iovance Biotherapeutics Price Performance

IOVA opened at $2.60 on Tuesday. The stock has a market capitalization of $940.81 million, a price-to-earnings ratio of -2.11 and a beta of 0.88. The business has a 50-day moving average of $2.28 and a two-hundred day moving average of $3.06. Iovance Biotherapeutics has a 12 month low of $1.64 and a 12 month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The business had revenue of $59.95 million during the quarter, compared to analysts’ expectations of $67.14 million. Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of IOVA. WealthTrust Axiom LLC lifted its position in Iovance Biotherapeutics by 80.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 8,000 shares in the last quarter. Accredited Investors Inc. acquired a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $33,000. Diversify Wealth Management LLC acquired a new position in Iovance Biotherapeutics during the 2nd quarter worth approximately $34,000. Flputnam Investment Management Co. acquired a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $37,000. Finally, Blueshift Asset Management LLC acquired a new position in Iovance Biotherapeutics during the 2nd quarter worth approximately $38,000. 77.03% of the stock is owned by institutional investors and hedge funds.

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.