Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $24.64 Consensus Price Target from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have been assigned an average recommendation of “Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.64.

A number of research firms have recently weighed in on IOVA. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, May 31st. Chardan Capital lifted their price objective on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. JMP Securities upped their price target on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 20th. Barclays lifted their price target on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 29th.

Iovance Biotherapeutics Stock Down 1.0 %

Shares of NASDAQ:IOVA opened at $8.00 on Friday. Iovance Biotherapeutics has a 52-week low of $3.21 and a 52-week high of $18.33. The business has a fifty day moving average of $10.66 and a two-hundred day moving average of $10.76. The stock has a market cap of $2.24 billion, a P/E ratio of -4.44 and a beta of 0.81.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in shares of 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 valued at $41,000 after buying an additional 4,678 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Iovance Biotherapeutics during the 1st quarter worth $87,000. Annandale Capital LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth about $32,000. Nisa Investment Advisors LLC lifted its position in shares of Iovance Biotherapeutics by 284.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 5,577 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new position in Iovance Biotherapeutics in the third quarter worth about $35,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.