Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.20.

Several brokerages have recently issued reports on IOVA. HC Wainwright lifted their price objective on Iovance Biotherapeutics from $9.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. UBS Group upped their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Wells Fargo & Company upped their target price on shares of Iovance Biotherapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Robert W. Baird lifted their price target on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Finally, Mizuho lifted their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 18th.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Iovance Biotherapeutics during the second quarter worth about $153,744,000. Palo Alto Investors LP acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $22,032,229. Bank of America Corp DE acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $20,773,000. Knott David M Jr acquired a new stake in shares of Iovance Biotherapeutics during the first quarter worth about $5,616,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $6,406,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $13.62 on Wednesday. The company has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $6.21. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -18.66 and a beta of 0.76. Iovance Biotherapeutics has a 52 week low of $1.76 and a 52 week high of $15.30.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping 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 analyst estimates of $87.83 million. During the same quarter in the prior year, the company earned ($0.33) earnings per share. The company’s revenue was up 65.7% on a year-over-year basis. On average, analysts expect that Iovance Biotherapeutics will post -0.45 EPS for the current year.

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.