Iovance Biotherapeutics (NASDAQ:IOVA) Earns Buy Rating from Analysts at UBS Group

UBS Group started coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $17.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on IOVA. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Finally, Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock opened at $10.67 on Thursday. The firm has a fifty day moving average of $10.25 and a two-hundred day moving average of $9.85. The firm has a market cap of $2.99 billion, a P/E ratio of -6.39 and a beta of 0.62. Iovance Biotherapeutics has a 1-year low of $3.47 and a 1-year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. The business had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same period last year, the firm earned ($0.47) earnings per share. The company’s revenue for the quarter was up 12969.7% compared to the same quarter last year. On average, sell-side analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in shares of Iovance Biotherapeutics by 33.9% during the 1st quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock worth $4,937,000 after buying an additional 84,382 shares during the period. Vanguard Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock valued at $185,468,000 after purchasing an additional 669,350 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at $246,000. Marshall Wace LLP bought a new position in shares of Iovance Biotherapeutics in the 2nd quarter worth $12,929,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Iovance Biotherapeutics during the first quarter worth $907,000. Institutional investors 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.