Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Consensus Rating of “Hold” from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $8.4286.

Several research firms recently weighed in on IOVA. UBS Group lifted their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Monday, April 6th. Chardan Capital reduced their price target 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. Wall Street Zen raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Barclays raised their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently made changes to their positions in the business. Invenomic Capital Management LP raised its stake in shares of Iovance Biotherapeutics by 27.1% in 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 purchasing 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 raised its position in shares of Iovance Biotherapeutics by 25.1% during the 4th quarter. Aberdeen Group plc now owns 759,522 shares of the biotechnology company’s stock valued at $2,073,000 after acquiring an additional 152,312 shares in the last quarter. Rhenman & Partners Asset Management AB raised its position in shares of Iovance Biotherapeutics by 69.5% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 1,097,827 shares of the biotechnology company’s stock valued at $2,382,000 after acquiring an additional 450,000 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of Iovance Biotherapeutics by 65.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 482,975 shares of the biotechnology company’s stock valued at $1,048,000 after acquiring an additional 190,522 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Trading Up 4.5%

Shares of IOVA opened at $3.70 on Friday. The firm has a market capitalization of $1.65 billion, a P/E ratio of -3.89 and a beta of 0.69. The stock’s fifty day simple moving average is $3.65 and its 200 day simple moving average is $3.04. Iovance Biotherapeutics has a twelve month low of $1.66 and a twelve month high of $5.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The business had revenue of $71.43 million during the quarter, compared to analysts’ expectations of $77.84 million. During the same quarter in the previous year, the business earned ($0.36) EPS. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. Sell-side analysts predict that Iovance Biotherapeutics will post -0.6 earnings per share for the current year.

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.