Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Raised to $11.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price hoisted by Robert W. Baird from $6.00 to $11.00 in a research report sent to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

Several other brokerages have also commented on IOVA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Tuesday, September 29th. Citizens Jmp upped their target price on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. TD Cowen increased their target price on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Wells Fargo & Company increased their target price on shares of Iovance Biotherapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Finally, Citigroup reiterated an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.90.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA opened at $14.62 on Thursday. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of -20.03 and a beta of 0.76. The business has a 50-day moving average of $9.25 and a two-hundred day moving average of $5.82. Iovance Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $15.30.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%. The business had revenue of $99.31 million for the quarter, compared to the consensus estimate of $87.83 million. During the same quarter in the prior year, the business posted ($0.33) EPS. The business’s revenue for the quarter was up 65.7% on a year-over-year basis. As a group, equities research analysts expect that Iovance Biotherapeutics will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. KBC Group NV acquired a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $34,000. Sanctuary Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at approximately $38,000. Fifth Third Bancorp purchased a new stake in shares of Iovance Biotherapeutics in the first quarter valued at approximately $39,000. Ceera Investments LLC purchased a new stake in shares of Iovance Biotherapeutics in the first quarter valued at approximately $44,000. Finally, First National Bank & Trust Co. of Newtown acquired a new position in Iovance Biotherapeutics during the second quarter worth $51,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. The company’s platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and reinfused to help the immune system recognize and attack cancer cells.

Iovance’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment with a PD-1-blocking antibody and, when applicable, a BRAF-targeted therapy.