Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $8.88 Consensus Target Price from Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.8750.

Several brokerages have commented on IOVA. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Monday, April 6th. Chardan Capital reissued a “buy” rating and set a $16.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, April 10th. UBS Group boosted their price target on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Truist Financial raised shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Finally, Wall Street Zen raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $3.44 on Wednesday. The company’s 50-day moving average price is $3.71 and its two-hundred day moving average price is $2.86. Iovance Biotherapeutics has a one year low of $1.64 and a one year high of $5.63. The stock has a market capitalization of $1.42 billion, a PE ratio of -3.07 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The firm had revenue of $86.77 million for the quarter, compared to analysts’ expectations of $81.61 million. On average, analysts anticipate that Iovance Biotherapeutics will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Invenomic Capital Management LP raised its holdings in shares of Iovance Biotherapeutics by 27.1% in the 3rd quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock valued at $22,875,000 after purchasing an additional 2,246,945 shares during the period. Mirador Capital Partners LP raised its holdings in shares of Iovance Biotherapeutics by 100.9% in the 4th quarter. Mirador Capital Partners LP now owns 1,034,544 shares of the biotechnology company’s stock valued at $2,824,000 after purchasing an additional 519,519 shares during the period. Aberdeen Group plc raised its holdings in shares of Iovance Biotherapeutics by 25.1% in the 4th quarter. Aberdeen Group plc now owns 759,522 shares of the biotechnology company’s stock valued at $2,073,000 after purchasing an additional 152,312 shares during the period. Rhenman & Partners Asset Management AB raised its holdings in shares of Iovance Biotherapeutics by 69.5% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 1,097,827 shares of the biotechnology company’s stock valued at $2,382,000 after purchasing an additional 450,000 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of Iovance Biotherapeutics by 65.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 482,975 shares of the biotechnology company’s stock valued at $1,048,000 after purchasing an additional 190,522 shares during the period. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Company Profile

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.