Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Raised to $8.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price lifted by UBS Group from $7.00 to $8.00 in a research note published on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the biotechnology company’s stock.

Several other analysts also recently weighed in on IOVA. Barclays boosted their price target on Iovance Biotherapeutics from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Tuesday, September 29th. HC Wainwright raised their price objective on Iovance Biotherapeutics from $9.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. TD Cowen raised their price objective on Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Finally, The Goldman Sachs Group began coverage on Iovance Biotherapeutics in a report on Thursday, September 24th. They set a “buy” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.30.

Iovance Biotherapeutics Trading Down 11.4%

NASDAQ:IOVA opened at $7.71 on Tuesday. Iovance Biotherapeutics has a twelve month low of $2.08 and a twelve month high of $15.37. The company has a market cap of $3.49 billion, a PE ratio of -10.55 and a beta of 0.88. The company’s 50 day moving average is $11.38 and its two-hundred day moving average is $5.94.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $121.47 million during the quarter, compared to analysts’ expectations of $115.98 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company’s quarterly revenue was up 64.8% on a year-over-year basis. As a group, analysts expect that Iovance Biotherapeutics will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Iovance Biotherapeutics during the 2nd quarter valued at about $153,744,000. Palo Alto Investors LP acquired a new stake in Iovance Biotherapeutics in the 2nd quarter valued at about $22,032,229. Bank of America Corp DE purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $20,773,000. Dimensional Fund Advisors LP lifted its stake in Iovance Biotherapeutics by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company’s stock worth $9,282,000 after purchasing an additional 1,106,592 shares in the last quarter. Finally, Knott David M Jr purchased a new position in Iovance Biotherapeutics in the 1st quarter worth approximately $5,616,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc (NASDAQ: IOVA) is a biotechnology company focused on developing and commercializing personalized cell therapies for patients with cancer. Its technology is based on tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded outside the body, and reinfused to help attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.