Iovance Biotherapeutics (NASDAQ:IOVA) Rating Increased to Market Outperform at Citizens Jmp

Citizens Jmp upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a market perform rating to a market outperform rating in a research note published on Tuesday morning,Benzinga reports. They currently have $5.00 price objective on the biotechnology company’s stock.

A number of other analysts have also recently weighed in on IOVA. Wall Street Zen raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Chardan Capital cut their price target on shares of Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Barclays boosted their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Hold” and a consensus target price of $8.63.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $3.74 on Tuesday. Iovance Biotherapeutics has a 12 month low of $1.64 and a 12 month high of $4.35. The firm has a market capitalization of $1.54 billion, a PE ratio of -3.34 and a beta of 0.69. The business’s fifty day moving average price is $2.76 and its 200 day moving average price is $2.45.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $86.77 million during the quarter, compared to analysts’ expectations of $81.61 million. As a group, equities analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IOVA. Royal Bank of Canada boosted its stake in shares of Iovance Biotherapeutics by 161.2% during the first quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock worth $1,740,000 after buying an additional 322,680 shares during the period. AQR Capital Management LLC raised its stake in Iovance Biotherapeutics by 279.0% during the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 43,829 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Iovance Biotherapeutics by 30.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock worth $18,554,000 after acquiring an additional 1,301,846 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 valued at $19,239,000 after purchasing an additional 3,869,617 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Iovance Biotherapeutics by 112.1% in the second quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 25,083 shares during the period. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

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.