Iovance Biotherapeutics (NASDAQ:IOVA) Stock Gets Price Target Increase from UBS Group

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective increased by investment analysts at UBS Group from $7.00 to $8.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. UBS Group‘s price objective would indicate a potential downside of 7.47% from the stock’s current price.

Several other equities analysts have also weighed in on IOVA. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Tuesday, September 29th. Robert W. Baird boosted their target price on Iovance Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. TD Cowen upped their price target on Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Wells Fargo & Company increased their price target on shares of Iovance Biotherapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Finally, Barclays increased their price target on shares of Iovance Biotherapeutics from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $13.30.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock traded up $0.63 during trading hours on Tuesday, reaching $8.65. The company had a trading volume of 4,111,902 shares, compared to its average volume of 15,748,819. The company has a 50 day moving average of $11.37 and a 200 day moving average of $5.85. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -11.77 and a beta of 0.76. Iovance Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $15.37.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (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 business had revenue of $99.31 million for the quarter, compared to analyst estimates of $87.83 million. During the same period last year, the company earned ($0.33) EPS. The firm’s revenue was up 65.7% on a year-over-year basis. As a group, sell-side analysts forecast that Iovance Biotherapeutics will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV acquired a new stake in Iovance Biotherapeutics during the 1st quarter worth approximately $34,000. Compass Financial Management LLC bought a new position in Iovance Biotherapeutics in the third quarter valued at approximately $37,000. Sanctuary Advisors LLC acquired a new position in shares of Iovance Biotherapeutics in the first quarter valued at approximately $38,000. Valley National Advisers Inc. acquired a new position in shares of Iovance Biotherapeutics in the third quarter valued at approximately $38,000. Finally, Fifth Third Bancorp bought a new stake in shares of Iovance Biotherapeutics during the first quarter worth $39,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc (NASDAQ: IOVA) is a biotechnology company focused on developing and commercializing personalized cell therapies for patients with cancer. Its technology is based on tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded outside the body, and reinfused to help attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.