Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Recommendation of “Hold” by Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.8750.

A number of research analysts have recently issued reports on IOVA shares. Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Citizens Jmp raised shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price target for the company in a report on Tuesday, March 3rd. UBS Group raised their price objective on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a research report on Thursday. Chardan Capital dropped their target price on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $2.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th.

Iovance Biotherapeutics Trading Up 12.0%

Shares of Iovance Biotherapeutics stock opened at $5.13 on Tuesday. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $5.35. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -4.58 and a beta of 0.69. The company has a fifty day simple moving average of $2.87 and a 200-day simple moving average of $2.50.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its 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. The business had revenue of $86.77 million for the quarter, compared to analyst estimates of $81.61 million. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. On average, analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of IOVA. Squarepoint Ops LLC increased its position in Iovance Biotherapeutics by 115.2% during the second quarter. Squarepoint Ops LLC now owns 856,569 shares of the biotechnology company’s stock worth $1,473,000 after buying an additional 458,540 shares in the last quarter. Mirador Capital Partners LP purchased a new stake in shares of Iovance Biotherapeutics in the third quarter valued at $1,118,000. Voss Capital LP purchased a new stake in shares of Iovance Biotherapeutics in the second quarter valued at $1,157,000. Virtus Investment Advisers LLC boosted its stake in shares of Iovance Biotherapeutics by 326.5% during the second quarter. Virtus Investment Advisers LLC now owns 192,378 shares of the biotechnology company’s stock valued at $331,000 after acquiring an additional 147,271 shares during the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new stake in Iovance Biotherapeutics during the 2nd quarter worth about $1,056,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

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.