Iovance Biotherapeutics (NASDAQ:IOVA) Stock Rating Upgraded by Zacks Research

Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Other research analysts have also issued reports about the stock. Barclays increased their price target on shares of Iovance Biotherapeutics from $15.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. HC Wainwright boosted their price objective on shares of Iovance Biotherapeutics from $9.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Wells Fargo & Company upped their price objective on shares of Iovance Biotherapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, September 30th. Robert W. Baird upped their price objective on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Finally, Mizuho raised their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.20.

Iovance Biotherapeutics Stock Up 5.8%

Shares of IOVA stock opened at $14.58 on Monday. The business’s fifty day moving average is $11.19 and its 200 day moving average is $5.70. Iovance Biotherapeutics has a twelve month low of $1.76 and a twelve month high of $15.37.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $99.31 million for the quarter, compared to analysts’ expectations of $87.83 million. During the same period in the prior year, the business posted ($0.33) EPS. The business’s quarterly revenue was up 65.7% compared to the same quarter last year. Analysts forecast that Iovance Biotherapeutics will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Iovance Biotherapeutics during the 2nd quarter valued at about $153,744,000. Palo Alto Investors LP purchased a new position in Iovance Biotherapeutics in the second quarter worth about $22,032,229. Bank of America Corp DE bought a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $20,773,000. Knott David M Jr bought a new position in shares of Iovance Biotherapeutics in the first quarter worth approximately $5,616,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $6,406,000. 77.03% of the stock is currently owned by institutional investors.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc (NASDAQ: IOVA) is a biotechnology company focused on developing and commercializing personalized cell therapies for patients with cancer. Its technology is based on tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded outside the body, and reinfused to help attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.