Brokerages Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $8.63

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.8750.

A number of analysts have recently commented on IOVA shares. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $2.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Barclays boosted their price objective 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. UBS Group increased their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Wall Street Zen raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new stake in shares of Iovance Biotherapeutics in the third quarter worth about $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $27,000. Arcataur Capital Management LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $29,000. Granite Investment Partners LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $29,000. Finally, Motley Fool Asset Management LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $29,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Up 5.5%

NASDAQ:IOVA opened at $5.41 on Tuesday. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $5.63. The stock’s fifty day simple moving average is $2.92 and its 200-day simple moving average is $2.52. The firm has a market capitalization of $2.23 billion, a P/E ratio of -4.83 and a beta of 0.68.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative return on equity of 54.54% and a negative net margin of 148.41%.The business had revenue of $86.77 million during the quarter, compared to the consensus estimate of $81.61 million. As a group, equities research analysts expect that Iovance Biotherapeutics will post -1.24 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.