Analysts Set Iovance Biotherapeutics Inc (IOVA) Price Target at $26.83
Iovance Biotherapeutics Inc (NASDAQ:IOVA) has received an average recommendation of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $26.50.
IOVA has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, November 12th. BidaskClub cut shares of Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 20th. B. Riley started coverage on shares of Iovance Biotherapeutics in a research report on Monday, December 31st. They set a “buy” rating and a $24.00 price objective on the stock. Oppenheimer set a $25.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Friday, January 11th. Finally, Zacks Investment Research cut shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th.
IOVA traded down $0.05 during trading on Wednesday, reaching $9.67. 16,910 shares of the stock traded hands, compared to its average volume of 845,286. The stock has a market capitalization of $1.20 billion, a P/E ratio of -6.87 and a beta of 1.92. Iovance Biotherapeutics has a 12 month low of $7.26 and a 12 month high of $19.90.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Iovance Biotherapeutics by 8.9% in the 2nd quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock worth $80,598,000 after buying an additional 512,844 shares during the period. Credit Suisse AG boosted its stake in Iovance Biotherapeutics by 51.3% in the 3rd quarter. Credit Suisse AG now owns 1,560,825 shares of the biotechnology company’s stock worth $17,559,000 after buying an additional 529,511 shares during the last quarter. NF Trinity Capital Hong Kong Ltd boosted its stake in Iovance Biotherapeutics by 83.0% in the 4th quarter. NF Trinity Capital Hong Kong Ltd now owns 228,442 shares of the biotechnology company’s stock worth $2,022,000 after buying an additional 103,588 shares during the last quarter. Vanguard Group Inc boosted its stake in Iovance Biotherapeutics by 8.1% in the 3rd quarter. Vanguard Group Inc now owns 4,048,782 shares of the biotechnology company’s stock worth $45,550,000 after buying an additional 302,649 shares during the last quarter. Finally, Stanley Laman Group Ltd. acquired a new stake in Iovance Biotherapeutics in the 3rd quarter worth about $4,244,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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