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

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price lowered by equities researchers at Barclays from $5.00 to $4.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective points to a potential upside of 119.18% from the company’s previous close.

Several other brokerages also recently commented on IOVA. Robert W. Baird cut their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Iovance Biotherapeutics in a research report on Friday. Citizens Jmp cut Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday. The Goldman Sachs Group decreased their target price on Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, HC Wainwright dropped their price target on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.22.

Iovance Biotherapeutics Stock Up 4.3%

Shares of IOVA traded up $0.08 during trading hours on Monday, reaching $1.83. 14,872,726 shares of the company traded hands, compared to its average volume of 8,228,767. Iovance Biotherapeutics has a 12 month low of $1.65 and a 12 month high of $12.51. The company’s fifty day moving average price is $3.36 and its two-hundred day moving average price is $6.07. The company has a market capitalization of $609.43 million, a price-to-earnings ratio of -1.21 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $49.32 million for the quarter, compared to analysts’ expectations of $83.40 million. During the same period last year, the business earned ($0.42) earnings per share. The company’s revenue was up 6795.1% on a year-over-year basis. On average, analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Accredited Investors Inc. purchased a new stake in Iovance Biotherapeutics in the first quarter valued at about $33,000. AlphaQuest LLC increased its holdings in shares of Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at about $36,000. FNY Investment Advisers LLC purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at approximately $39,000. Finally, Gould Asset Management LLC CA purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.