Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Raised to $11.00 at Mizuho

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective boosted by equities researchers at Mizuho from $10.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Mizuho’s price target indicates a potential upside of 54.93% from the stock’s current price.

A number of other research firms have also issued reports on IOVA. Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Robert W. Baird set a $6.00 price target on Iovance Biotherapeutics in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Barclays raised their price objective on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Citizens Jmp boosted their target price on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Hold” and an average price target of $8.38.

Iovance Biotherapeutics Price Performance

IOVA stock opened at $7.10 on Tuesday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -9.73 and a beta of 0.71. The company has a 50-day moving average of $4.71 and a two-hundred day moving average of $3.98. Iovance Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $7.25.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates 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 $198.63 million for the quarter, compared to analyst estimates of $87.83 million. During the same period in the previous year, the company posted ($0.33) earnings per share. The firm’s revenue for the quarter was up 65.7% on a year-over-year basis. Equities analysts expect that Iovance Biotherapeutics will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several large investors have recently added to or reduced their stakes in IOVA. BlackRock Inc. bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth approximately $153,744,000. Vanguard Group Inc. increased its position in shares of Iovance Biotherapeutics by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after purchasing an additional 3,148,096 shares during the period. State Street Corp increased its position in shares of Iovance Biotherapeutics by 51.5% during the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock valued at $55,041,000 after purchasing an additional 6,851,486 shares during the period. Invenomic Capital Management LP raised its stake in shares of Iovance Biotherapeutics by 13.5% in the fourth quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after purchasing an additional 1,417,897 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Iovance Biotherapeutics by 30.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock valued at $23,499,000 after purchasing an additional 2,032,062 shares in the last quarter. Institutional investors and hedge funds 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.