Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $8.75 Consensus Target Price from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $8.8889.

IOVA has been the subject of several research reports. Chardan Capital decreased their target price on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Barclays lifted their price target on Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Finally, Mizuho raised their price objective on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in shares of Iovance Biotherapeutics by 161.2% during the first quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock valued at $1,740,000 after purchasing an additional 322,680 shares during the last quarter. AQR Capital Management LLC increased its position in Iovance Biotherapeutics by 279.0% during the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 43,829 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Iovance Biotherapeutics by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after buying an additional 1,301,846 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Iovance Biotherapeutics by 202.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after buying an additional 3,869,617 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Iovance Biotherapeutics by 112.1% in the second quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 25,083 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 2.2%

Shares of IOVA opened at $8.26 on Tuesday. Iovance Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $9.36. The firm’s 50-day moving average price is $5.39 and its 200-day moving average price is $4.29. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -11.31 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company had revenue of $198.63 million during the quarter, compared to the consensus estimate of $87.83 million. During the same period in the prior year, the firm earned ($0.33) earnings per share. Iovance Biotherapeutics’s revenue was up 65.7% on a year-over-year basis. On average, research analysts forecast that Iovance Biotherapeutics will post -0.48 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.