UBS Group Raises Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $4.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target raised by analysts at UBS Group from $2.00 to $4.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective would indicate a potential downside of 22.03% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Citizens Jmp raised shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price objective for the company in a research note on Tuesday. Barclays boosted their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group reiterated a “sell” rating and issued a $2.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Finally, Chardan Capital cut their price objective on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of “Hold” and a consensus target price of $8.88.

Iovance Biotherapeutics Stock Up 12.0%

Iovance Biotherapeutics stock opened at $5.13 on Thursday. The stock has a market cap of $2.11 billion, a PE ratio of -4.58 and a beta of 0.69. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $5.35. The business’s 50-day moving average price is $2.87 and its two-hundred day moving average price is $2.50.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The firm had revenue of $86.77 million during the quarter, compared to analysts’ expectations of $81.61 million. As a group, analysts expect that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Iovance Biotherapeutics by 161.2% during the 1st quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock worth $1,740,000 after purchasing an additional 322,680 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Iovance Biotherapeutics by 279.0% in the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 43,829 shares during 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 worth $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 worth $19,239,000 after buying an additional 3,869,617 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted 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 valued at $82,000 after buying an additional 25,083 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.