Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $20.25

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.25.

IOVA has been the subject of a number of analyst reports. Chardan Capital cut their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Truist Financial lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Robert W. Baird lowered their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its position in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $36,000. GF Fund Management CO. LTD. bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $47,000. One68 Global Capital LLC purchased a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $74,000. Finally, Quarry LP bought a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $74,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Price Performance

IOVA opened at $3.54 on Tuesday. The business has a 50 day moving average price of $5.12 and a two-hundred day moving average price of $7.77. The company has a market cap of $1.16 billion, a PE ratio of -2.38 and a beta of 0.93. Iovance Biotherapeutics has a 52 week low of $3.42 and a 52 week high of $15.50.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The firm had revenue of $73.69 million during the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. As a group, sell-side analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.