Iovance Biotherapeutics (NASDAQ:IOVA) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on IOVA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Robert W. Baird set a $6.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. 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 research report on Friday, August 7th. Chardan Capital dropped their price target on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Barclays lifted their price target on Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Iovance Biotherapeutics Stock Down 2.8%

Shares of NASDAQ IOVA opened at $8.06 on Monday. The stock has a market capitalization of $3.65 billion, a P/E ratio of -11.04 and a beta of 0.71. The firm’s 50-day moving average price is $5.13 and its two-hundred day moving average price is $4.17. Iovance Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $9.36.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $198.63 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The business’s revenue for the quarter was up 65.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.33) EPS. As a group, equities research analysts expect that Iovance Biotherapeutics will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in IOVA. BlackRock Inc. bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth $153,744,000. State Street Corp boosted its stake in Iovance Biotherapeutics by 51.5% during the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock valued at $55,041,000 after buying an additional 6,851,486 shares in the last quarter. Palo Alto Investors LP bought a new position in Iovance Biotherapeutics during the second quarter valued at about $22,032,229,000. Bank of America Corp DE acquired a new position in Iovance Biotherapeutics during the second quarter worth about $20,773,000. Finally, HRT Financial LP grew its holdings in Iovance Biotherapeutics by 1,078.3% during the fourth quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company’s stock worth $11,891,000 after acquiring an additional 3,986,314 shares during the period. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.