Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Has Average Price Target of $13.20 According to Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.20.

A number of brokerages recently commented on IOVA. TD Cowen raised their price objective on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, August 24th. HC Wainwright lifted their target price on Iovance Biotherapeutics from $9.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Robert W. Baird lifted their target price on Iovance Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. The Goldman Sachs Group assumed coverage on Iovance Biotherapeutics in a research note on Thursday, September 24th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, UBS Group upped their price target on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Iovance Biotherapeutics in the second quarter worth $153,744,000. Palo Alto Investors LP bought a new position in Iovance Biotherapeutics in the second quarter valued at $22,032,229. Bank of America Corp DE bought a new position in Iovance Biotherapeutics in the second quarter valued at $20,773,000. Knott David M Jr acquired a new stake in Iovance Biotherapeutics in the 1st quarter valued at $5,616,000. Finally, Rice Hall James & Associates LLC acquired a new stake in Iovance Biotherapeutics in the 2nd quarter valued at $6,406,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $13.62 on Wednesday. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of -18.66 and a beta of 0.76. The business has a 50 day simple moving average of $10.17 and a 200 day simple moving average of $6.19. Iovance Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $15.30.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $99.31 million for the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The business’s revenue was up 65.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. On average, analysts predict that Iovance Biotherapeutics will post -0.45 EPS for the current year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. The company’s platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and reinfused to help the immune system recognize and attack cancer cells.

Iovance’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment with a PD-1-blocking antibody and, when applicable, a BRAF-targeted therapy.