Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Consensus Rating of “Hold” from Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned an average rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.4286.

Several analysts have recently weighed in on the company. The Goldman Sachs Group restated a “sell” rating and set a $2.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Monday, April 6th. Citizens Jmp raised Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price objective on the stock in a research note on Tuesday, March 3rd. UBS Group lifted their price objective on Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Chardan Capital cut their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in IOVA. State Street Corp lifted its stake in shares of Iovance Biotherapeutics by 51.5% in the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock worth $55,041,000 after acquiring an additional 6,851,486 shares during the period. Palo Alto Investors LP lifted its stake in shares of Iovance Biotherapeutics by 122.1% in the third quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock worth $16,531,000 after acquiring an additional 4,188,803 shares during the period. HRT Financial LP lifted its stake in shares of Iovance Biotherapeutics by 1,078.3% in the fourth quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company’s stock worth $11,891,000 after acquiring an additional 3,986,314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Iovance Biotherapeutics by 202.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after acquiring an additional 3,869,617 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock worth $74,275,000 after acquiring an additional 3,148,096 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Trading Up 11.1%

NASDAQ:IOVA opened at $4.11 on Friday. The stock has a market cap of $1.84 billion, a P/E ratio of -4.33 and a beta of 0.69. The stock’s 50-day moving average is $3.63 and its 200-day moving average is $3.04. Iovance Biotherapeutics has a 1-year low of $1.66 and a 1-year high of $5.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). The company had revenue of $71.43 million for the quarter, compared to analysts’ expectations of $77.84 million. Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The business’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.36) earnings per share. As a group, equities analysts forecast that Iovance Biotherapeutics will post -0.6 EPS for the current year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.