Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Raised to $4.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target boosted by UBS Group from $2.00 to $4.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

IOVA has been the subject of several other reports. Wall Street Zen upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group restated a “sell” rating and set a $2.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Citizens Jmp upgraded Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price objective for the company in a report on Tuesday, March 3rd. Barclays upped their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Finally, Chardan Capital cut their target price on shares of Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.88.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $5.13 on Thursday. The firm’s 50 day simple moving average is $2.87 and its 200-day simple moving average is $2.50. Iovance Biotherapeutics has a one year low of $1.64 and a one year high of $5.35. The firm has a market cap of $2.11 billion, a PE ratio of -4.58 and a beta of 0.69.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative return on equity of 54.54% and a negative net margin of 148.41%.The firm had revenue of $86.77 million during the quarter, compared to analyst estimates of $81.61 million. Equities research analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IOVA. State Street Corp lifted its stake in shares of Iovance Biotherapeutics by 51.5% during the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock worth $55,041,000 after buying an additional 6,851,486 shares during the period. Palo Alto Investors LP increased its position in shares of Iovance Biotherapeutics by 122.1% in the 3rd quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock valued at $16,531,000 after acquiring an additional 4,188,803 shares during the period. HRT Financial LP increased its position in shares of Iovance Biotherapeutics by 1,078.3% in the 4th quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company’s stock valued at $11,891,000 after acquiring an additional 3,986,314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after acquiring an additional 3,869,617 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Iovance Biotherapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock worth $74,275,000 after acquiring an additional 3,148,096 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.