Stock analysts at Piper Jaffray Companies assumed coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note issued on Monday, The Fly reports. The brokerage set an “overweight” rating on the biotechnology company’s stock.
Other analysts have also recently issued research reports about the company. Chardan Capital reiterated a “buy” rating and set a $20.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday, April 2nd. HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of Iovance Biotherapeutics in a research report on Monday, April 1st. BidaskClub upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Zacks Investment Research cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, ValuEngine lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Iovance Biotherapeutics currently has a consensus rating of “Buy” and a consensus target price of $22.86.
Iovance Biotherapeutics stock opened at $11.10 on Monday. The stock has a market cap of $1.37 billion, a P/E ratio of -8.74 and a beta of 1.91. Iovance Biotherapeutics has a 52 week low of $7.26 and a 52 week high of $18.25.
Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Wednesday, February 27th. The biotechnology company reported ($0.27) EPS for the quarter, hitting analysts’ consensus estimates of ($0.27). As a group, analysts expect that Iovance Biotherapeutics will post -1.18 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOVA. Advisor Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 58.6% in the 4th quarter. Advisor Group Inc. now owns 8,118 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 3,000 shares in the last quarter. Kalos Management Inc. acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $93,000. Virtu Financial LLC acquired a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $99,000. Great West Life Assurance Co. Can lifted its position in Iovance Biotherapeutics by 67.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 14,538 shares of the biotechnology company’s stock worth $124,000 after acquiring an additional 5,853 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $130,000. 96.33% of the stock is currently owned by institutional investors and hedge funds.
Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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