Research Analysts Set Expectations for Iovance Biotherapeutics Inc’s Q1 2018 Earnings (IOVA)
Iovance Biotherapeutics Inc (NASDAQ:IOVA) – Stock analysts at Jefferies Group issued their Q1 2018 EPS estimates for shares of Iovance Biotherapeutics in a research note issued to investors on Monday. Jefferies Group analyst B. Amin forecasts that the biotechnology company will post earnings per share of ($0.30) for the quarter. Jefferies Group currently has a “Buy” rating and a $31.00 target price on the stock. Jefferies Group also issued estimates for Iovance Biotherapeutics’ Q2 2018 earnings at ($0.30) EPS, Q4 2018 earnings at ($0.31) EPS and FY2022 earnings at $1.60 EPS.
A number of other brokerages have also commented on IOVA. BidaskClub lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. ValuEngine upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. HC Wainwright upped their target price on Iovance Biotherapeutics from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Oppenheimer upped their target price on Iovance Biotherapeutics from $13.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $19.72.
Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Monday, March 12th. The biotechnology company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.04).
A number of institutional investors have recently added to or reduced their stakes in the business. Orbimed Advisors LLC boosted its position in Iovance Biotherapeutics by 89.9% in the 3rd quarter. Orbimed Advisors LLC now owns 6,425,626 shares of the biotechnology company’s stock worth $49,799,000 after purchasing an additional 3,042,726 shares in the last quarter. BlackRock Inc. boosted its position in Iovance Biotherapeutics by 9.0% in the 4th quarter. BlackRock Inc. now owns 4,864,841 shares of the biotechnology company’s stock worth $38,918,000 after purchasing an additional 401,743 shares in the last quarter. Perceptive Advisors LLC boosted its position in Iovance Biotherapeutics by 1.1% in the 4th quarter. Perceptive Advisors LLC now owns 4,776,114 shares of the biotechnology company’s stock worth $38,208,000 after purchasing an additional 50,000 shares in the last quarter. Vanguard Group Inc. purchased a new stake in Iovance Biotherapeutics in the 2nd quarter worth approximately $16,113,000. Finally, Farallon Capital Management LLC boosted its position in Iovance Biotherapeutics by 119.6% in the 4th quarter. Farallon Capital Management LLC now owns 1,866,900 shares of the biotechnology company’s stock worth $14,935,000 after purchasing an additional 1,016,900 shares in the last quarter. Institutional investors and hedge funds own 67.82% of the company’s stock.
About Iovance Biotherapeutics
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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