Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.00.

Several brokerages recently issued reports on IOVA. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $10.00 in a report on Monday, July 29th. HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Finally, StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th.

Iovance Biotherapeutics Trading Up 0.7 %

Iovance Biotherapeutics stock opened at $10.24 on Friday. The stock has a market cap of $2.87 billion, a P/E ratio of -5.69 and a beta of 0.62. The company has a 50-day moving average price of $10.27 and a 200 day moving average price of $10.04. Iovance Biotherapeutics has a 12-month low of $3.21 and a 12-month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The firm’s quarterly revenue was up 12969.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) earnings per share. As a group, analysts forecast that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new position in Iovance Biotherapeutics in the second quarter valued at $32,000. Quest Partners LLC raised its position in Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 4,629 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $87,000. EverSource Wealth Advisors LLC acquired a new position in shares of Iovance Biotherapeutics during the second quarter worth about $58,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Iovance Biotherapeutics by 754.0% during the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after buying an additional 7,781 shares during the period. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.