Iovance Biotherapeutics (NASDAQ:IOVA) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $15.00 price target on the biotechnology company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 36.36% from the company’s previous close.

A number of other equities analysts have also recently weighed in on IOVA. Citizens Jmp lifted their price target 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. Mizuho upped their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. Barclays raised their price objective on Iovance Biotherapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Finally, UBS Group boosted their target price on Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.56.

Iovance Biotherapeutics Stock Up 1.9%

NASDAQ IOVA traded up $0.20 on Thursday, reaching $11.00. The company had a trading volume of 12,613,763 shares, compared to its average volume of 15,513,854. Iovance Biotherapeutics has a 52 week low of $1.76 and a 52 week high of $11.13. The stock’s 50 day moving average is $7.37 and its 200-day moving average is $5.12. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -15.07 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $99.31 million for the quarter, compared to analysts’ expectations of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The company’s revenue was up 65.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.33) earnings per share. As a group, analysts forecast that Iovance Biotherapeutics will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of IOVA. BlackRock Inc. bought a new stake in Iovance Biotherapeutics in the 2nd quarter valued at approximately $153,744,000. Invenomic Capital Management LP raised its holdings in shares of Iovance Biotherapeutics by 13.5% in the fourth quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after purchasing an additional 1,417,897 shares during the last quarter. Palo Alto Investors LP acquired a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $22,032,229. Bank of America Corp DE acquired a new position in Iovance Biotherapeutics during the second quarter worth $20,773,000. Finally, Dimensional Fund Advisors LP raised its position in Iovance Biotherapeutics by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company’s stock worth $9,282,000 after acquiring an additional 1,106,592 shares in the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.