Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Raised to $11.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price hoisted by Mizuho from $10.00 to $11.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have an outperform rating on the biotechnology company’s stock.

Several other analysts also recently commented on the stock. Robert W. Baird set a $6.00 target price on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Barclays increased their price objective on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citizens Jmp raised their price objective on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Finally, Chardan Capital cut their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.75.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $8.99 on Tuesday. Iovance Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $9.36. The business has a 50-day moving average of $4.96 and a two-hundred day moving average of $4.09. The company has a market capitalization of $4.07 billion, a P/E ratio of -12.31 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The business had revenue of $198.63 million for the quarter, compared to analysts’ expectations of $87.83 million. During the same quarter in the previous year, the business posted ($0.33) EPS. Iovance Biotherapeutics’s revenue for the quarter was up 65.7% on a year-over-year basis. On average, equities analysts anticipate that Iovance Biotherapeutics will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds have recently made changes to their positions in the business. Xponance LLC grew its position in Iovance Biotherapeutics by 19.4% during the fourth quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock worth $66,000 after buying an additional 3,950 shares in the last quarter. GTS Securities LLC increased its stake in Iovance Biotherapeutics by 44.6% during the 2nd quarter. GTS Securities LLC now owns 14,461 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 4,457 shares during the period. Raymond James Financial Inc. raised its holdings in Iovance Biotherapeutics by 1.4% in the 2nd quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 4,618 shares in the last quarter. Orion Investment Co raised its holdings in Iovance Biotherapeutics by 0.3% in the 4th quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after acquiring an additional 5,150 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Iovance Biotherapeutics by 37.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,290 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 5,301 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.