Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $9.11 Consensus Target Price from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.1111.

IOVA has been the subject of several recent analyst reports. Citizens Jmp upped their target price on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Mizuho raised their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Barclays boosted their price objective on Iovance Biotherapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group increased their target price 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, TD Cowen lifted their target price on Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, August 24th.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new position in shares of Iovance Biotherapeutics in the first quarter worth $34,000. Sanctuary Advisors LLC purchased a new position in Iovance Biotherapeutics during the first quarter valued at $38,000. Fifth Third Bancorp bought a new stake in Iovance Biotherapeutics in the 1st quarter valued at $39,000. Ceera Investments LLC bought a new stake in Iovance Biotherapeutics in the 1st quarter valued at $44,000. Finally, First National Bank & Trust Co. of Newtown purchased a new stake in Iovance Biotherapeutics in the 2nd quarter worth $51,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $10.19 on Friday. The company has a market capitalization of $4.62 billion, a P/E ratio of -13.96 and a beta of 0.83. Iovance Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $10.98. The firm’s 50 day simple moving average is $7.00 and its two-hundred day simple moving average is $5.00.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $99.31 million during the quarter, compared to analysts’ expectations of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company’s revenue for the quarter was up 65.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) earnings per share. On average, sell-side analysts anticipate that Iovance Biotherapeutics will post -0.49 earnings per share for the current fiscal year.

About Iovance Biotherapeutics

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

The company’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.