Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $14.80.

A number of analysts have weighed in on IOVA shares. HC Wainwright decreased their price target on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Friday, May 9th. Chardan Capital decreased their target price on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Mizuho dropped their price target on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research note on Monday. Piper Sandler cut their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Barclays lowered their price objective on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Monday.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $1.79 on Wednesday. The stock has a market cap of $597.74 million, a P/E ratio of -1.20 and a beta of 1.06. The firm has a 50 day moving average price of $3.28 and a two-hundred day moving average price of $5.98. Iovance Biotherapeutics has a 52-week low of $1.65 and a 52-week high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $49.32 million during the quarter, compared to the consensus estimate of $83.40 million. During the same period in the prior year, the company posted ($0.42) earnings per share. The company’s revenue for the quarter was up 6795.1% compared to the same quarter last year. Analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in IOVA. SG Americas Securities LLC purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter worth about $515,000. Jennison Associates LLC purchased a new position in Iovance Biotherapeutics in the 4th quarter worth $493,000. Barclays PLC lifted its stake in Iovance Biotherapeutics by 118.8% in the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 328,284 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the last quarter. Finally, Banque Pictet & Cie SA boosted its position in Iovance Biotherapeutics by 17.0% during the fourth quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company’s stock valued at $2,787,000 after buying an additional 54,832 shares during the period. 77.03% of the stock is owned by institutional investors.

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.