HC Wainwright Reiterates “$16.00” Price Target for Iovance Biotherapeutics (IOVA)
Iovance Biotherapeutics (NASDAQ:IOVA) has been assigned a $16.00 price target by analysts at HC Wainwright in a research report issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 83.91% from the stock’s current price.
Several other brokerages have also recently commented on IOVA. Oppenheimer set a $13.00 price objective on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Thursday, October 12th. Jefferies Group restated a “buy” rating on shares of Iovance Biotherapeutics in a research report on Sunday, October 29th. FBR & Co restated a “buy” rating and set a $17.50 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, October 25th. BidaskClub downgraded shares of Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.53.
Shares of Iovance Biotherapeutics (NASDAQ IOVA) opened at $8.70 on Thursday. Iovance Biotherapeutics has a 52 week low of $4.45 and a 52 week high of $9.50.
Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01). research analysts predict that Iovance Biotherapeutics will post -1.37 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in Iovance Biotherapeutics during the second quarter worth approximately $19,013,000. FMR LLC purchased a new stake in Iovance Biotherapeutics during the second quarter worth approximately $20,833,000. Frazier Management LLC purchased a new stake in Iovance Biotherapeutics during the second quarter worth approximately $15,209,000. Vanguard Group Inc. purchased a new stake in Iovance Biotherapeutics during the second quarter worth approximately $16,113,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Iovance Biotherapeutics during the second quarter worth approximately $1,538,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.
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Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.
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