Iovance Biotherapeutics (NASDAQ:IOVA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Iovance Biotherapeutics, Inc. is a biopharmaceutical company. It focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. Iovance Biotherapeutics Inc., formerly known as Lion Biotechnologies Inc., is based in SAN CARLOS, United States. “

A number of other research analysts have also recently weighed in on the company. ValuEngine upgraded Iovance Biotherapeutics from a buy rating to a strong-buy rating in a report on Thursday, May 23rd. Robert W. Baird lifted their target price on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company an outperform rating in a report on Thursday, May 16th. Chardan Capital reiterated a buy rating and issued a $30.00 target price on shares of Iovance Biotherapeutics in a report on Friday, May 31st. Oppenheimer set a $32.00 target price on Iovance Biotherapeutics and gave the company a buy rating in a report on Wednesday, July 3rd. Finally, BidaskClub cut Iovance Biotherapeutics from a buy rating to a hold rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $28.45.

Shares of Iovance Biotherapeutics stock opened at $21.89 on Friday. Iovance Biotherapeutics has a twelve month low of $7.26 and a twelve month high of $26.59. The firm has a market capitalization of $2.74 billion, a PE ratio of -17.24 and a beta of 1.81. The company has a quick ratio of 12.14, a current ratio of 12.15 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $23.99.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.09). As a group, analysts predict that Iovance Biotherapeutics will post -1.38 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Atika Capital Management LLC acquired a new position in shares of Iovance Biotherapeutics during the second quarter worth approximately $4,536,000. Bank of New York Mellon Corp boosted its position in shares of Iovance Biotherapeutics by 17.8% during the second quarter. Bank of New York Mellon Corp now owns 559,171 shares of the biotechnology company’s stock worth $13,711,000 after buying an additional 84,683 shares during the period. M&T Bank Corp acquired a new position in shares of Iovance Biotherapeutics during the second quarter worth approximately $270,000. Charles Schwab Investment Management Inc. boosted its position in shares of Iovance Biotherapeutics by 5.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 702,254 shares of the biotechnology company’s stock worth $17,220,000 after buying an additional 34,480 shares during the period. Finally, Artal Group S.A. boosted its position in shares of Iovance Biotherapeutics by 40.0% during the second quarter. Artal Group S.A. now owns 700,000 shares of the biotechnology company’s stock worth $17,164,000 after buying an additional 200,000 shares during the period. 96.11% of the stock is currently owned by institutional investors.

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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