Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $24.64 Average Target Price from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $24.64.

Several research firms have commented on IOVA. Barclays increased their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Piper Sandler lifted their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. JMP Securities boosted their price target on Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 20th. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Finally, The Goldman Sachs Group boosted their target price on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 29th.

Insider Activity at Iovance Biotherapeutics

In other news, Director Merrill A. Mcpeak purchased 250,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $9.15 per share, with a total value of $2,287,500.00. Following the acquisition, the director now directly owns 320,150 shares in the company, valued at $2,929,372.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Kennedy Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 52.3% in the 3rd quarter. Kennedy Capital Management LLC now owns 344,042 shares of the biotechnology company’s stock worth $1,565,000 after buying an additional 118,133 shares during the period. Principal Financial Group Inc. increased its position in shares of Iovance Biotherapeutics by 41.3% during the third quarter. Principal Financial Group Inc. now owns 2,643,155 shares of the biotechnology company’s stock valued at $12,026,000 after acquiring an additional 772,905 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Iovance Biotherapeutics by 48.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 130,287 shares of the biotechnology company’s stock worth $1,059,000 after acquiring an additional 42,692 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Iovance Biotherapeutics by 13.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company’s stock valued at $22,916,000 after acquiring an additional 609,738 shares in the last quarter. Finally, Mariner LLC lifted its stake in Iovance Biotherapeutics by 107.3% during the 3rd quarter. Mariner LLC now owns 371,850 shares of the biotechnology company’s stock valued at $1,692,000 after acquiring an additional 192,450 shares during the period. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $12.03 on Friday. Iovance Biotherapeutics has a 52 week low of $3.21 and a 52 week high of $18.33. The stock has a market capitalization of $3.36 billion, a P/E ratio of -6.40 and a beta of 0.62. The stock’s fifty day moving average is $14.08 and its 200 day moving average is $9.24.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The firm had revenue of $0.48 million during the quarter, compared to the consensus estimate of $1.44 million. During the same quarter last year, the firm posted ($0.64) EPS. Equities research analysts forecast that Iovance Biotherapeutics will post -1.4 earnings per share for the current year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.