Oppenheimer Analysts Give Iovance Biotherapeutics (IOVA) a $25.00 Price Target
Oppenheimer set a $25.00 price objective on Iovance Biotherapeutics (NASDAQ:IOVA) in a research report sent to investors on Friday morning. The firm currently has a buy rating on the biotechnology company’s stock. Oppenheimer also issued estimates for Iovance Biotherapeutics’ FY2023 earnings at $1.49 EPS.
Several other brokerages also recently commented on IOVA. HC Wainwright reiterated a buy rating and set a $26.00 target price on shares of Iovance Biotherapeutics in a report on Monday, November 12th. BidaskClub downgraded Iovance Biotherapeutics from a sell rating to a strong sell rating in a report on Thursday, December 20th. B. Riley initiated coverage on Iovance Biotherapeutics in a report on Monday, December 31st. They set a buy rating and a $24.00 target price on the stock. ValuEngine downgraded Iovance Biotherapeutics from a strong-buy rating to a buy rating in a report on Tuesday, December 18th. Finally, Zacks Investment Research upgraded Iovance Biotherapeutics from a hold rating to a buy rating and set a $11.00 target price on the stock in a report on Friday, January 4th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $24.38.
Shares of NASDAQ:IOVA opened at $9.51 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of -6.74 and a beta of 2.42. Iovance Biotherapeutics has a one year low of $7.26 and a one year high of $19.90.
In other Iovance Biotherapeutics news, Director Wayne P. Rothbaum acquired 1,221,053 shares of the company’s stock in a transaction on Thursday, December 6th. The shares were bought at an average cost of $10.20 per share, for a total transaction of $12,454,740.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Wayne P. Rothbaum acquired 921,053 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were acquired at an average price of $10.31 per share, for a total transaction of $9,496,056.43. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,164,106 shares of company stock worth $22,150,897 over the last 90 days. 9.90% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Cheyne Capital Management UK LLP purchased a new stake in Iovance Biotherapeutics during the 3rd quarter worth approximately $2,250,000. Vanguard Group Inc increased its holdings in Iovance Biotherapeutics by 8.1% during the 3rd quarter. Vanguard Group Inc now owns 4,048,782 shares of the biotechnology company’s stock worth $45,550,000 after purchasing an additional 302,649 shares during the last quarter. Vanguard Group Inc. increased its holdings in Iovance Biotherapeutics by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,048,782 shares of the biotechnology company’s stock worth $45,550,000 after purchasing an additional 302,649 shares during the last quarter. Teachers Advisors LLC increased its holdings in Iovance Biotherapeutics by 27.6% during the 3rd quarter. Teachers Advisors LLC now owns 727,043 shares of the biotechnology company’s stock worth $8,179,000 after purchasing an additional 157,427 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Iovance Biotherapeutics by 18.5% during the 3rd quarter. AQR Capital Management LLC now owns 46,692 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 7,293 shares during the last quarter. Institutional investors own 73.27% of the company’s stock.
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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