Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Raised to $4.00

by · The Markets Daily

Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) had its price objective boosted by equities researchers at UBS Group from $2.00 to $4.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective suggests a potential downside of 7.41% from the stock’s previous close.

Several other analysts have also recently commented on IOVA. Wall Street Zen upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Chardan Capital dropped their price target on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. The Goldman Sachs Group restated a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Citizens Jmp raised Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price target for the company in a research report on Tuesday. Finally, Barclays increased their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.88.

Read Our Latest Research Report on IOVA

Iovance Biotherapeutics Trading Up 1.4%

Iovance Biotherapeutics stock traded up $0.06 during midday trading on Thursday, reaching $4.32. The company’s stock had a trading volume of 8,788,588 shares, compared to its average volume of 14,147,200. The business has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.46. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $4.38. The stock has a market cap of $1.78 billion, a PE ratio of -3.86 and a beta of 0.69.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The firm had revenue of $86.77 million during the quarter, compared to analysts’ expectations of $81.61 million. As a group, research analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds have recently bought and sold shares of IOVA. Royal Bank of Canada boosted its holdings in Iovance Biotherapeutics by 161.2% in the 1st quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock valued at $1,740,000 after purchasing an additional 322,680 shares during the period. AQR Capital Management LLC increased its holdings in shares of Iovance Biotherapeutics by 279.0% in the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock worth $195,000 after buying an additional 43,829 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 30.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after buying an additional 1,301,846 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Iovance Biotherapeutics by 202.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after buying an additional 3,869,617 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Iovance Biotherapeutics by 112.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 25,083 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

(Get Free Report)

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.

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