Robert W. Baird Forecasts Strong Price Appreciation for Iovance Biotherapeutics (NASDAQ:IOVA) Stock

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target hoisted by stock analysts at Robert W. Baird from $6.00 to $11.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. Robert W. Baird’s price objective would indicate a potential downside of 14.79% from the stock’s previous close.

Several other equities research analysts have also issued reports on IOVA. TD Cowen lifted their price objective on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Wells Fargo & Company lifted their target price on Iovance Biotherapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 30th. Mizuho lifted their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. UBS Group increased their price target on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Finally, Barclays upped their price objective on Iovance Biotherapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, September 17th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.90.

Iovance Biotherapeutics Stock Down 0.4%

Shares of IOVA opened at $12.91 on Thursday. The firm has a 50-day moving average price of $8.86 and a 200 day moving average price of $5.69. The firm has a market capitalization of $5.85 billion, a PE ratio of -17.68 and a beta of 0.76. Iovance Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $15.30.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm had revenue of $99.31 million for the quarter, compared to analyst estimates of $87.83 million. During the same quarter in the previous year, the business posted ($0.33) earnings per share. The firm’s quarterly revenue was up 65.7% compared to the same quarter last year. On average, equities analysts expect that Iovance Biotherapeutics will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $153,744,000. Palo Alto Investors LP acquired a new stake in Iovance Biotherapeutics during the second quarter worth approximately $22,032,229. Bank of America Corp DE bought a new position in Iovance Biotherapeutics during the 2nd quarter worth $20,773,000. Knott David M Jr bought a new position in Iovance Biotherapeutics during the 1st quarter worth $5,616,000. Finally, Rice Hall James & Associates LLC acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at $6,406,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. The company’s platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and reinfused to help the immune system recognize and attack cancer cells.

Iovance’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment with a PD-1-blocking antibody and, when applicable, a BRAF-targeted therapy.