Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Has Consensus Price Target of $13.20 According to Brokerages

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.20.

IOVA has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Citigroup reiterated an “outperform” rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Tuesday, September 29th. Barclays upped their price objective on shares of Iovance Biotherapeutics from $15.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Finally, Citizens Jmp raised their price objective on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IOVA. BlackRock Inc. bought a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $153,744,000. Invenomic Capital Management LP boosted its stake in 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 acquiring an additional 1,417,897 shares during the last quarter. Palo Alto Investors LP bought a new position in Iovance Biotherapeutics in the second quarter valued at approximately $22,032,229. Bank of America Corp DE bought a new position in Iovance Biotherapeutics in the second quarter valued at approximately $20,773,000. Finally, Dimensional Fund Advisors LP grew its holdings in Iovance Biotherapeutics by 71.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company’s stock worth $9,282,000 after acquiring an additional 1,106,592 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock opened at $14.86 on Wednesday. The stock’s fifty day simple moving average is $10.49 and its 200 day simple moving average is $6.37. Iovance Biotherapeutics has a one year low of $1.76 and a one year high of $15.30. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -20.36 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data 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. The firm had revenue of $99.31 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%. The business’s revenue for the quarter was up 65.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) earnings per share. On average, research analysts anticipate that Iovance Biotherapeutics will post -0.45 earnings per share for the current year.

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.