Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Target Price at $24.64

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned an average rating of “Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $24.64.

A number of analysts recently issued reports on IOVA shares. JMP Securities increased their target price on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group raised their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, May 31st. Piper Sandler increased their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, Wells Fargo & Company boosted their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st.

Iovance Biotherapeutics Trading Down 1.0 %

Shares of IOVA opened at $8.00 on Friday. The stock’s 50 day moving average is $10.66 and its two-hundred day moving average is $10.76. Iovance Biotherapeutics has a twelve month low of $3.21 and a twelve month high of $18.33. The firm has a market capitalization of $2.24 billion, a PE ratio of -4.44 and a beta of 0.81.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.03. The business had revenue of $0.72 million for the quarter, compared to analyst estimates of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company’s quarterly revenue was up 71400.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.50) EPS. On average, sell-side analysts predict that Iovance Biotherapeutics will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of IOVA. Quadrant Capital Group LLC grew its position in Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Iovance Biotherapeutics in the first quarter valued at about $87,000. Annandale Capital LLC acquired a new position in Iovance Biotherapeutics in the third quarter worth approximately $32,000. Nisa Investment Advisors LLC lifted its stake in Iovance Biotherapeutics by 284.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 5,577 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of Iovance Biotherapeutics in the 3rd quarter valued at $35,000. 77.03% of the stock is owned by institutional investors and hedge funds.

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.