Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $11.10 Average PT from Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.10.

Several analysts recently issued reports on the stock. HC Wainwright cut their price target on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Barclays upped their target price on shares of Iovance Biotherapeutics from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Iovance Biotherapeutics in the third quarter worth $27,000. WealthTrust Axiom LLC increased its stake in Iovance Biotherapeutics by 80.0% during the second quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 8,000 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Iovance Biotherapeutics by 67.6% during the third quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 6,095 shares during the period. Finally, Wealthfront Advisers LLC bought a new position in shares of Iovance Biotherapeutics in the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Up 1.3%

Shares of NASDAQ IOVA opened at $2.38 on Monday. Iovance Biotherapeutics has a fifty-two week low of $1.64 and a fifty-two week high of $6.50. The business has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $2.35. The firm has a market cap of $944.78 million, a PE ratio of -1.98 and a beta of 0.77.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. Iovance Biotherapeutics had a negative return on equity of 55.24% and a negative net margin of 158.78%.The company had revenue of $67.46 million for the quarter, compared to analyst estimates of $76.20 million. On average, analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current 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.