Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Target Price at $8.63

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have earned a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $8.8750.

Several analysts have weighed in on IOVA shares. Citizens Jmp raised Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 target price on the stock in a report on Tuesday. Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. The Goldman Sachs Group restated a “sell” rating and set a $2.00 target price on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Finally, UBS Group increased their price target on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a research report on Thursday.

Iovance Biotherapeutics Trading Up 7.5%

IOVA stock opened at $4.58 on Tuesday. The firm has a 50 day moving average of $2.82 and a 200-day moving average of $2.48. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $4.60. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -4.09 and a beta of 0.69.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Iovance Biotherapeutics had a negative return on equity of 54.54% and a negative net margin of 148.41%.The business had revenue of $86.77 million for the quarter, compared to analysts’ expectations of $81.61 million. Sell-side analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of Iovance Biotherapeutics by 161.2% in the first quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock valued at $1,740,000 after acquiring an additional 322,680 shares in the last quarter. AQR Capital Management LLC raised its stake in Iovance Biotherapeutics by 279.0% in the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 43,829 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after purchasing an additional 1,301,846 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Iovance Biotherapeutics by 202.8% in the 1st 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 valued at $19,239,000 after purchasing an additional 3,869,617 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Iovance Biotherapeutics by 112.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 25,083 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 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.