Brokerages Set Iovance Biotherapeutics Inc (NASDAQ:IOVA) Price Target at $31.10

Iovance Biotherapeutics Inc (NASDAQ:IOVA) has received an average recommendation of “Buy” from the thirteen research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.10.

Several equities analysts have issued reports on IOVA shares. B. Riley set a $28.00 price objective on Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Friday, August 16th. BidaskClub raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Financial Group set a $33.00 target price on Iovance Biotherapeutics and gave the company a “buy” rating in a report on Monday, August 26th. ValuEngine cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th.

A number of large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new position in Iovance Biotherapeutics in the second quarter valued at $29,000. Aperio Group LLC acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at about $86,000. Meeder Asset Management Inc. raised its stake in Iovance Biotherapeutics by 453.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 6,356 shares of the biotechnology company’s stock valued at $116,000 after acquiring an additional 5,207 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Iovance Biotherapeutics by 14.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,700 shares of the biotechnology company’s stock valued at $189,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Iovance Biotherapeutics during the 2nd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 97.27% of the company’s stock.

Shares of Iovance Biotherapeutics stock traded down $0.15 during trading hours on Tuesday, hitting $24.72. The company had a trading volume of 1,079,985 shares, compared to its average volume of 1,285,070. The company has a current ratio of 10.61, a quick ratio of 10.61 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $21.94 and its two-hundred day moving average is $21.19. Iovance Biotherapeutics has a twelve month low of $7.26 and a twelve month high of $26.59.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Monday, November 4th. The biotechnology company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.01). On average, equities analysts forecast that Iovance Biotherapeutics will post -1.5 EPS for the current fiscal year.

About Iovance Biotherapeutics

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, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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