Iovance Biotherapeutics (NASDAQ:IOVA) Upgraded to Strong-Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) to a strong-buy rating in a report published on Thursday,Zacks reports.

IOVA has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Barclays boosted their target price on Iovance Biotherapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, September 17th. UBS Group lifted their price objective on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Mizuho upped their target price on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Finally, Citizens Jmp raised their target price on Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.56.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $10.80 on Thursday. The stock has a market capitalization of $4.89 billion, a P/E ratio of -14.79 and a beta of 0.83. The business has a 50 day simple moving average of $7.37 and a two-hundred day simple moving average of $5.12. Iovance Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $10.98.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The firm had revenue of $99.31 million during the quarter, compared to analysts’ expectations of $87.83 million. During the same period in the previous year, the business earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 65.7% on a year-over-year basis. As a group, research analysts anticipate that Iovance Biotherapeutics will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its position in shares of Iovance Biotherapeutics by 5.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,957 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 1,691 shares during the period. GTS Securities LLC boosted its position in Iovance Biotherapeutics by 44.6% during the second quarter. GTS Securities LLC now owns 14,461 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 4,457 shares in the last quarter. Orion Investment Co grew its holdings in Iovance Biotherapeutics by 0.3% in the fourth quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after purchasing an additional 5,150 shares during the last quarter. Flputnam Investment Management Co. increased its position in shares of Iovance Biotherapeutics by 27.9% in the fourth quarter. Flputnam Investment Management Co. now owns 25,950 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 5,661 shares in the last quarter. Finally, Mirador Capital Partners LP raised its stake in shares of Iovance Biotherapeutics by 0.7% during the 2nd quarter. Mirador Capital Partners LP now owns 1,080,288 shares of the biotechnology company’s stock worth $4,494,000 after buying an additional 7,052 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.