HC Wainwright Issues Positive Forecast for Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target boosted by HC Wainwright from $9.00 to $20.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 46.45% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on IOVA. Robert W. Baird set a $6.00 price objective on Iovance Biotherapeutics in a research note on Friday, August 7th. TD Cowen raised their price objective on Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Mizuho lifted their target price on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Citizens Jmp boosted their target price on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Finally, UBS Group increased their price target on Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.78.

Iovance Biotherapeutics Trading Up 24.3%

Shares of IOVA stock traded up $2.67 on Tuesday, reaching $13.66. The company’s stock had a trading volume of 21,637,157 shares, compared to its average volume of 15,507,152. The stock’s fifty day simple moving average is $7.61 and its 200-day simple moving average is $5.20. Iovance Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $14.11. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of -18.69 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company had revenue of $99.31 million for the quarter, compared to the consensus estimate of $87.83 million. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Iovance Biotherapeutics’s revenue was up 65.7% on a year-over-year basis. Equities research analysts forecast that Iovance Biotherapeutics will post -0.49 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in IOVA. Sequoia Financial Advisors LLC boosted its position in shares of Iovance Biotherapeutics by 5.4% during the second quarter. Sequoia Financial Advisors LLC now owns 32,957 shares of the biotechnology company’s stock valued at $137,000 after buying an additional 1,691 shares during the period. Tidal Investments LLC boosted its holdings in Iovance Biotherapeutics by 52.1% during the 2nd quarter. Tidal Investments LLC now owns 280,048 shares of the biotechnology company’s stock valued at $1,165,000 after acquiring an additional 95,933 shares during the period. Engineers Gate Manager LP boosted its holdings in Iovance Biotherapeutics by 76.5% during the 2nd quarter. Engineers Gate Manager LP now owns 190,035 shares of the biotechnology company’s stock valued at $791,000 after acquiring an additional 82,338 shares during the period. Integrated Wealth Concepts LLC bought a new position in Iovance Biotherapeutics in the 2nd quarter valued at $55,000. Finally, Baird Financial Group Inc. grew its position in Iovance Biotherapeutics by 12.0% in the 2nd quarter. Baird Financial Group Inc. now owns 222,340 shares of the biotechnology company’s stock valued at $925,000 after acquiring an additional 23,800 shares during the last quarter. 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.