Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $8.43 Consensus Target Price from Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.4286.

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Monday, April 6th. Citizens Jmp raised Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 target price on the stock in a research report on Tuesday, March 3rd. Barclays upped their target price on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Chardan Capital cut their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Truist Financial raised Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently made changes to their positions in IOVA. Invenomic Capital Management LP raised its position in shares of Iovance Biotherapeutics by 27.1% during the 3rd quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock valued at $22,875,000 after acquiring an additional 2,246,945 shares in the last quarter. Mirador Capital Partners LP raised its position in shares of Iovance Biotherapeutics by 100.9% during the 4th quarter. Mirador Capital Partners LP now owns 1,034,544 shares of the biotechnology company’s stock valued at $2,824,000 after acquiring an additional 519,519 shares in the last quarter. Aberdeen Group plc increased its position in Iovance Biotherapeutics by 25.1% in the fourth quarter. Aberdeen Group plc now owns 759,522 shares of the biotechnology company’s stock worth $2,073,000 after buying an additional 152,312 shares during the period. Rhenman & Partners Asset Management AB increased its position in Iovance Biotherapeutics by 69.5% in the third quarter. Rhenman & Partners Asset Management AB now owns 1,097,827 shares of the biotechnology company’s stock worth $2,382,000 after buying an additional 450,000 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Iovance Biotherapeutics by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after buying an additional 3,148,096 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Down 1.2%

NASDAQ IOVA opened at $4.03 on Thursday. The stock has a market cap of $1.80 billion, a PE ratio of -4.24 and a beta of 0.73. Iovance Biotherapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $5.63. The business has a 50 day moving average price of $3.75 and a two-hundred day moving average price of $3.25.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). The firm had revenue of $71.43 million during the quarter, compared to analysts’ expectations of $77.84 million. Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.Iovance Biotherapeutics’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.36) EPS. Sell-side analysts anticipate that Iovance Biotherapeutics will post -0.63 EPS for the current fiscal year.

About Iovance Biotherapeutics

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.