Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Has Consensus Price Target of $13.80

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $13.80.

Several brokerages have weighed in on IOVA. The Goldman Sachs Group started coverage on shares of Iovance Biotherapeutics in a research note on Thursday, September 24th. They set a “buy” rating and a $15.00 price objective on the stock. UBS Group raised their price objective on shares of Iovance Biotherapeutics from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 3rd. Robert W. Baird lifted their target price on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Citigroup reissued an “outperform” rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Finally, Zacks Research upgraded Iovance Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP acquired a new stake in Iovance Biotherapeutics during the 3rd quarter worth $9,620,000. Focus Advisor Solutions LLC acquired a new position in Iovance Biotherapeutics in the third quarter valued at about $198,000. Atlas Wealth LLC acquired a new position in Iovance Biotherapeutics in the third quarter valued at about $214,000. Voya Investment Management LLC grew its stake in Iovance Biotherapeutics by 89.7% in the third quarter. Voya Investment Management LLC now owns 144,978 shares of the biotechnology company’s stock valued at $2,149,000 after acquiring an additional 68,545 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Iovance Biotherapeutics by 113.3% in the third quarter. HighTower Advisors LLC now owns 30,791 shares of the biotechnology company’s stock worth $456,000 after acquiring an additional 16,356 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $7.63 on Friday. The business’s fifty day moving average price is $11.35 and its two-hundred day moving average price is $6.08. Iovance Biotherapeutics has a fifty-two week low of $2.08 and a fifty-two week high of $15.37. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -14.40 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, November 5th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. Iovance Biotherapeutics had a negative net margin of 58.20% and a negative return on equity of 29.71%. The business had revenue of $121.47 million during the quarter, compared to analysts’ expectations of $115.98 million. The company’s revenue for the quarter was up 64.8% compared to the same quarter last year. Research analysts expect that Iovance Biotherapeutics will post -0.41 EPS for the current fiscal year.

About Iovance Biotherapeutics

Iovance Biotherapeutics is a biotechnology company focused on developing and commercializing personalized cell therapies for cancer. Its approach uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, which are expanded in a laboratory and returned to the patient. The company’s lead product, Amtagvi (lifileucel), is a TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma previously treated with specified therapies.