Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Price Target at $8.43

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.4286.

A number of equities analysts recently commented on IOVA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IOVA. Tema ETFs LLC raised its holdings in shares of Iovance Biotherapeutics by 52.1% in the second quarter. Tema ETFs LLC now owns 280,048 shares of the biotechnology company’s stock worth $1,165,000 after buying an additional 95,933 shares during the period. Centurion Wealth Management LLC boosted its holdings in Iovance Biotherapeutics by 18.5% during the 2nd quarter. Centurion Wealth Management LLC now owns 69,168 shares of the biotechnology company’s stock valued at $288,000 after acquiring an additional 10,784 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Iovance Biotherapeutics by 100.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 818,913 shares of the biotechnology company’s stock valued at $3,407,000 after acquiring an additional 409,449 shares during the last quarter. Mirador Capital Partners LP grew its position in Iovance Biotherapeutics by 0.7% in the 2nd quarter. Mirador Capital Partners LP now owns 1,080,288 shares of the biotechnology company’s stock valued at $4,494,000 after acquiring an additional 7,052 shares during the last quarter. Finally, Optiver Holding B.V. grew its position in Iovance Biotherapeutics by 24.0% in the 1st quarter. Optiver Holding B.V. now owns 36,660 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 7,092 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of IOVA opened at $4.07 on Friday. The company has a market cap of $1.82 billion, a PE ratio of -4.28 and a beta of 0.71. The business has a fifty day moving average of $4.31 and a 200 day moving average of $3.71. Iovance Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $5.64.

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

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.