Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $8.88 Consensus Price Target from Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.8750.

IOVA has been the topic of several recent analyst reports. Truist Financial upgraded shares of Iovance Biotherapeutics to a “hold” rating in a report on Wednesday, March 25th. Barclays lifted their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. 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. UBS Group lifted their price objective on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $2.00 target price on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $3.32 on Friday. Iovance Biotherapeutics has a 1-year low of $1.64 and a 1-year high of $5.63. The business has a fifty day moving average price of $3.34 and a 200-day moving average price of $2.68. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -2.96 and a beta of 0.68.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating 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 company had revenue of $86.77 million for the quarter, compared to analyst estimates of $81.61 million. On average, equities research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of large investors have recently bought and sold shares of IOVA. Xponance LLC raised its position in Iovance Biotherapeutics by 19.4% during the 4th quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock worth $66,000 after buying an additional 3,950 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Iovance Biotherapeutics by 1.4% during the second quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock worth $557,000 after purchasing an additional 4,618 shares during the last quarter. R Squared Ltd lifted its position in Iovance Biotherapeutics by 41.4% during the third quarter. R Squared Ltd now owns 16,043 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 4,700 shares during the period. Orion Investment Co boosted its holdings in Iovance Biotherapeutics by 0.3% in the fourth quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after purchasing an additional 5,150 shares during the last quarter. Finally, Flputnam Investment Management Co. grew its position in Iovance Biotherapeutics by 35.4% during the 3rd quarter. Flputnam Investment Management Co. now owns 20,289 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 5,300 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.