Iovance Biotherapeutics (NASDAQ:IOVA) Stock Rating Upgraded by Citizens Jmp

Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by stock analysts at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a report released on Tuesday,Benzinga reports. The brokerage presently has a $5.00 target price on the biotechnology company’s stock. Citizens Jmp’s price objective would indicate a potential upside of 17.37% from the company’s current price.

Several other analysts have also issued reports on the company. Wall Street Zen raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Barclays raised their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Finally, Chardan Capital cut their price target on shares of Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.63.

Iovance Biotherapeutics Trading Up 13.9%

Shares of IOVA opened at $4.26 on Tuesday. Iovance Biotherapeutics has a 12 month low of $1.64 and a 12 month high of $4.35. The firm’s 50 day moving average is $2.79 and its 200-day moving average is $2.46. The stock has a market capitalization of $1.75 billion, a PE ratio of -3.80 and a beta of 0.69.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after purchasing an additional 3,148,096 shares in the last quarter. State Street Corp raised its holdings in Iovance Biotherapeutics by 51.5% in the 4th quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock valued at $55,041,000 after buying an additional 6,851,486 shares during the last quarter. Invenomic Capital Management LP raised its holdings in Iovance Biotherapeutics by 13.5% in the 4th quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after buying an additional 1,417,897 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Iovance Biotherapeutics by 30.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock worth $23,499,000 after buying an additional 2,032,062 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Iovance Biotherapeutics by 16.4% during the 4th quarter. Geode Capital Management LLC now owns 7,991,640 shares of the biotechnology company’s stock worth $21,821,000 after acquiring an additional 1,123,337 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

About Iovance Biotherapeutics

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.