Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $24.00.

Several research firms have recently commented on IOVA. JMP Securities reduced their price target on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, June 20th. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $10.00 in a research report on Monday, July 29th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Monday, August 12th.

Iovance Biotherapeutics Stock Performance

IOVA stock opened at $11.38 on Friday. The firm has a market cap of $3.18 billion, a PE ratio of -6.32 and a beta of 0.63. The firm’s 50 day moving average price is $9.07 and its 200-day moving average price is $11.11. Iovance Biotherapeutics has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The business’s revenue for the quarter was up 12969.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.47) EPS. Equities research analysts predict that Iovance Biotherapeutics will post -1.39 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Large investors have recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in shares of Iovance Biotherapeutics during the second quarter worth $32,000. Quest Partners LLC grew its stake in shares of Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Iovance Biotherapeutics by 1,227.8% during the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Iovance Biotherapeutics during the second quarter worth $58,000. Finally, Signaturefd LLC grew its stake in shares of Iovance Biotherapeutics by 256.6% during the fourth quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 6,277 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.