Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $20.25 Average Price Target from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.25.

Several analysts recently issued reports on IOVA shares. Piper Sandler cut their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Chardan Capital cut their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Robert W. Baird cut their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group cut their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Truist Financial dropped their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd.

Iovance Biotherapeutics Stock Down 0.6 %

Shares of IOVA opened at $3.54 on Tuesday. The business has a 50-day simple moving average of $5.18 and a two-hundred day simple moving average of $7.85. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -2.38 and a beta of 0.93. Iovance Biotherapeutics has a 52 week low of $3.48 and a 52 week high of $15.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million during the quarter, compared to analysts’ expectations of $72.17 million. On average, equities analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after purchasing an additional 220,373 shares during the last quarter. State Street Corp lifted its stake in shares of Iovance Biotherapeutics by 4.6% in the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock valued at $123,967,000 after purchasing an additional 576,801 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 10.4% in the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock valued at $66,538,000 after purchasing an additional 846,936 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock valued at $43,458,000 after purchasing an additional 222,425 shares during the last quarter. Finally, Long Focus Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 13.2% in the 4th quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock valued at $37,977,000 after purchasing an additional 600,000 shares during the last quarter. 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.