Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Expected to Post Earnings of -$0.52 Per Share

Wall Street analysts forecast that Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) will report earnings per share of ($0.52) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Iovance Biotherapeutics’ earnings, with the highest EPS estimate coming in at ($0.48) and the lowest estimate coming in at ($0.55). Iovance Biotherapeutics reported earnings per share of ($0.40) in the same quarter last year, which would suggest a negative year-over-year growth rate of 30%. The business is scheduled to report its next earnings report on Thursday, November 4th.

On average, analysts expect that Iovance Biotherapeutics will report full-year earnings of ($2.08) per share for the current fiscal year, with EPS estimates ranging from ($2.15) to ($1.98). For the next fiscal year, analysts expect that the company will report earnings of ($2.20) per share, with EPS estimates ranging from ($2.38) to ($2.04). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Iovance Biotherapeutics.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 5th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.02).

IOVA has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating and set a $28.00 target price for the company. in a report on Friday, October 8th. JMP Securities restated a “buy” rating on shares of Iovance Biotherapeutics in a report on Wednesday, August 11th. Chardan Capital restated a “buy” rating on shares of Iovance Biotherapeutics in a report on Wednesday, July 7th. Mizuho started coverage on shares of Iovance Biotherapeutics in a report on Tuesday, June 29th. They set a “buy” rating and a $30.00 target price for the company. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $35.00 price target on shares of Iovance Biotherapeutics in a research note on Tuesday, August 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Buy” and an average price target of $37.75.

NASDAQ:IOVA traded up $1.11 during mid-day trading on Friday, hitting $27.44. 52,353 shares of the company’s stock traded hands, compared to its average volume of 1,332,672. The firm’s 50 day simple moving average is $23.99 and its 200 day simple moving average is $25.00. Iovance Biotherapeutics has a 1 year low of $15.88 and a 1 year high of $54.21. The company has a market cap of $4.25 billion, a PE ratio of -14.38 and a beta of 0.84.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOVA. ARK Investment Management LLC lifted its position in Iovance Biotherapeutics by 29.0% during the first quarter. ARK Investment Management LLC now owns 19,726,650 shares of the biotechnology company’s stock valued at $624,546,000 after buying an additional 4,428,828 shares in the last quarter. Armistice Capital LLC acquired a new position in Iovance Biotherapeutics during the second quarter valued at approximately $87,739,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Iovance Biotherapeutics by 45.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,737,618 shares of the biotechnology company’s stock valued at $201,333,000 after buying an additional 2,434,885 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in Iovance Biotherapeutics by 44.5% during the second quarter. Nikko Asset Management Americas Inc. now owns 7,724,788 shares of the biotechnology company’s stock valued at $198,527,000 after buying an additional 2,378,927 shares in the last quarter. Finally, Credit Suisse AG lifted its position in Iovance Biotherapeutics by 9,067.3% during the first quarter. Credit Suisse AG now owns 2,394,489 shares of the biotechnology company’s stock valued at $75,809,000 after buying an additional 2,368,369 shares in the last quarter.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.

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Earnings History and Estimates for Iovance Biotherapeutics (NASDAQ:IOVA)

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