Iovance Biotherapeutics’ (IOVA) Buy Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVAFree Report) in a research note published on Wednesday morning,Benzinga reports. Chardan Capital currently has a $25.00 price objective on the biotechnology company’s stock.

Several other brokerages have also commented on IOVA. JMP Securities reissued a “market perform” rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. Truist Financial downgraded Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Baird R W downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. The Goldman Sachs Group downgraded Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a report on Tuesday, July 15th. Finally, Barclays reduced their price target on Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.22.

View Our Latest Stock Report on IOVA

Iovance Biotherapeutics Trading Down 4.9%

Shares of Iovance Biotherapeutics stock opened at $3.13 on Wednesday. The firm has a market capitalization of $1.05 billion, a P/E ratio of -2.52 and a beta of 0.85. The business has a fifty day simple moving average of $2.05 and a two-hundred day simple moving average of $3.50. Iovance Biotherapeutics has a 12 month low of $1.64 and a 12 month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The firm had revenue of $49.32 million for the quarter, compared to analysts’ expectations of $83.40 million. Iovance Biotherapeutics had a negative net margin of 176.49% and a negative return on equity of 49.71%. The business’s quarterly revenue was up 6795.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.42) EPS. Analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently modified their holdings of the business. Delaney Dennis R purchased a new stake in shares of Iovance Biotherapeutics during the second quarter valued at $65,000. Aberdeen Group plc boosted its position in shares of Iovance Biotherapeutics by 291.7% during the second quarter. Aberdeen Group plc now owns 516,289 shares of the biotechnology company’s stock valued at $888,000 after buying an additional 384,489 shares during the last quarter. Grimes & Company Inc. boosted its position in shares of Iovance Biotherapeutics by 17.6% during the second quarter. Grimes & Company Inc. now owns 37,839 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 5,672 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Iovance Biotherapeutics by 202.8% during the first 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 buying an additional 3,869,617 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Iovance Biotherapeutics by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after buying an additional 1,301,846 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

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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.

Further Reading

Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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