Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) PT at $18.22

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.33.

Several analysts have issued reports on IOVA shares. Robert W. Baird cut their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Barclays cut their price target on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Baird R W lowered Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday. JMP Securities reissued a “market perform” rating on shares of Iovance Biotherapeutics in a report on Friday. Finally, Citizens Jmp lowered Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday.

Iovance Biotherapeutics Trading Down 44.8%

Iovance Biotherapeutics stock opened at $1.75 on Wednesday. The firm has a market cap of $584.38 million, a price-to-earnings ratio of -1.17 and a beta of 1.06. The stock has a fifty day simple moving average of $3.36 and a two-hundred day simple moving average of $6.07. Iovance Biotherapeutics has a 12 month low of $1.65 and a 12 month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $49.32 million during the quarter, compared to the consensus estimate of $83.40 million. During the same period in the previous year, the business posted ($0.42) EPS. The firm’s revenue for the quarter was up 6795.1% on a year-over-year basis. On average, equities research analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Accredited Investors Inc. bought a new stake in Iovance Biotherapeutics during the 1st quarter valued at $33,000. AlphaQuest LLC boosted its position in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Iovance Biotherapeutics during the 4th quarter valued at $36,000. FNY Investment Advisers LLC bought a new stake in Iovance Biotherapeutics during the 1st quarter valued at $39,000. Finally, Gould Asset Management LLC CA bought a new stake in Iovance Biotherapeutics during the 1st quarter valued at $39,000. Institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.