Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Target Price at $24.64

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.45.

Several brokerages have issued reports on IOVA. Barclays raised their price objective on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. The Goldman Sachs Group lifted their price target on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Wells Fargo & Company lifted their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Piper Sandler lifted their price target on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, JMP Securities decreased their price target on shares of Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday.

Iovance Biotherapeutics Trading Down 0.4 %

Shares of NASDAQ:IOVA opened at $7.97 on Friday. Iovance Biotherapeutics has a 12 month low of $3.21 and a 12 month high of $18.33. The company has a 50-day moving average price of $10.46 and a 200 day moving average price of $10.72. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -4.43 and a beta of 0.80.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.99 million. During the same quarter last year, the firm earned ($0.50) EPS. The firm’s revenue for the quarter was up 71400.0% compared to the same quarter last year. As a group, equities analysts forecast that Iovance Biotherapeutics will post -1.35 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently bought and sold shares of IOVA. Victory Capital Management Inc. increased its holdings in Iovance Biotherapeutics by 21.1% during the third quarter. Victory Capital Management Inc. now owns 22,598 shares of the biotechnology company’s stock valued at $103,000 after buying an additional 3,937 shares during the period. J.P. Morgan Private Wealth Advisors LLC increased its holdings in Iovance Biotherapeutics by 58.4% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,294 shares of the biotechnology company’s stock valued at $142,000 after buying an additional 11,543 shares during the period. Amalgamated Bank grew its holdings in Iovance Biotherapeutics by 24.8% in the third quarter. Amalgamated Bank now owns 22,306 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 4,434 shares during the last quarter. Swiss National Bank grew its holdings in Iovance Biotherapeutics by 18.9% in the third quarter. Swiss National Bank now owns 489,356 shares of the biotechnology company’s stock worth $2,227,000 after purchasing an additional 77,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Iovance Biotherapeutics by 13.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,692,533 shares of the biotechnology company’s stock worth $7,701,000 after purchasing an additional 201,311 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

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.