Iovance Biotherapeutics (NASDAQ:IOVA) Upgraded at Zacks Research

Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

IOVA has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Tuesday, September 29th. Citigroup reiterated an “outperform” rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. TD Cowen increased their price objective on Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. The Goldman Sachs Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, September 24th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Citizens Jmp lifted their price objective on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $13.20.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $14.58 on Monday. Iovance Biotherapeutics has a 12-month low of $1.76 and a 12-month high of $15.37. The firm has a 50-day moving average price of $11.19 and a 200 day moving average price of $5.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $99.31 million for the quarter, compared to the consensus estimate of $87.83 million. During the same quarter in the prior year, the business earned ($0.33) EPS. The firm’s revenue for the quarter was up 65.7% on a year-over-year basis. As a group, equities analysts anticipate that Iovance Biotherapeutics will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of large investors have recently modified their holdings of IOVA. BlackRock Inc. acquired a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $153,744,000. Palo Alto Investors LP acquired a new position in Iovance Biotherapeutics during the 2nd quarter worth $22,032,229. Bank of America Corp DE acquired a new position in Iovance Biotherapeutics during the 2nd quarter worth $20,773,000. Knott David M Jr bought a new position in Iovance Biotherapeutics in the 1st quarter valued at $5,616,000. Finally, Rice Hall James & Associates LLC bought a new position in Iovance Biotherapeutics in the 2nd quarter valued at $6,406,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc (NASDAQ: IOVA) is a biotechnology company focused on developing and commercializing personalized cell therapies for patients with cancer. Its technology is based on tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded outside the body, and reinfused to help attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.