Iovance Biotherapeutics (NASDAQ:IOVA) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Iovance Biotherapeutics (NASDAQ:IOVA) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01, Briefing.com reports. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The company had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. During the same period last year, the company earned ($0.47) earnings per share. The firm’s revenue was up 12969.7% compared to the same quarter last year.

Iovance Biotherapeutics Trading Up 24.9 %

Iovance Biotherapeutics stock traded up $1.98 during trading hours on Friday, reaching $9.92. 23,625,123 shares of the stock were exchanged, compared to its average volume of 7,796,315. Iovance Biotherapeutics has a twelve month low of $3.21 and a twelve month high of $18.33. The company has a market cap of $2.78 billion, a P/E ratio of -5.51 and a beta of 0.63. The stock has a 50 day moving average of $8.24 and a two-hundred day moving average of $10.83.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IOVA. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, June 28th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research note on Friday, July 12th. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, JMP Securities cut their target price 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, June 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.