HC Wainwright Has Optimistic Outlook of IOVA FY2027 Earnings

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) – Analysts at HC Wainwright lifted their FY2027 earnings estimates for shares of Iovance Biotherapeutics in a research report issued on Friday, November 8th. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will post earnings of $0.08 per share for the year, up from their prior forecast of $0.05. HC Wainwright has a “Buy” rating and a $32.00 price objective on the stock. The consensus estimate for Iovance Biotherapeutics’ current full-year earnings is ($1.26) per share.

A number of other brokerages also recently weighed in on IOVA. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. UBS Group started coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. Finally, Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $19.00 to $10.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Iovance Biotherapeutics Stock Up 0.6 %

Shares of IOVA opened at $10.65 on Monday. The business’s fifty day moving average is $10.17 and its 200 day moving average is $9.80. Iovance Biotherapeutics has a 12-month low of $3.80 and a 12-month high of $18.33. The stock has a market cap of $2.98 billion, a P/E ratio of -7.15 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 60.50% and a negative net margin of 451.25%. The company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same period in the previous year, the firm earned ($0.46) earnings per share.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC bought a new position in Iovance Biotherapeutics in the second quarter worth about $32,000. Quest Partners LLC boosted its holdings in Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in Iovance Biotherapeutics in the 2nd quarter worth approximately $58,000. Daiwa Securities Group Inc. raised its stake in Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 7,781 shares during the last quarter. Finally, Abacus Planning Group Inc. bought a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at $82,000. 77.03% of the stock is owned by institutional investors.

About Iovance Biotherapeutics

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.