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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.56.

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Robert W. Baird set a $6.00 price target on shares of Iovance Biotherapeutics in a report on Friday, August 7th. The Goldman Sachs Group assumed coverage on shares of Iovance Biotherapeutics in a research report on Thursday. They issued a “buy” rating and a $15.00 price objective for the company. Citizens Jmp upped their price objective on Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Finally, Mizuho increased their price objective on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th.

Iovance Biotherapeutics Stock Performance

Shares of IOVA opened at $11.00 on Friday. The company has a market cap of $4.98 billion, a price-to-earnings ratio of -15.07 and a beta of 0.83. The stock has a fifty day moving average price of $7.49 and a two-hundred day moving average price of $5.16. Iovance Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $11.13.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its 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. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The company had revenue of $99.31 million during the quarter, compared to analyst estimates of $87.83 million. During the same period last year, the company posted ($0.33) earnings per share. The firm’s quarterly revenue was up 65.7% compared to the same quarter last year. As a group, research analysts predict that Iovance Biotherapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in Iovance Biotherapeutics in the first quarter worth about $34,000. Sanctuary Advisors LLC bought a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $38,000. Fifth Third Bancorp bought a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $39,000. Ceera Investments LLC acquired a new stake in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $44,000. Finally, First National Bank & Trust Co. of Newtown acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $51,000. Institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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

The company’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.