Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Free Report) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.8889.
Several brokerages have issued reports on IOVA. Chardan Capital cut their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Mizuho raised their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. UBS Group lifted their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Finally, TD Cowen increased 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.
View Our Latest Stock Report on IOVA
Iovance Biotherapeutics Stock Up 2.0%
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company had revenue of $198.63 million during the quarter, compared to analyst estimates of $87.83 million. During the same quarter last year, the business posted ($0.33) earnings per share. The company’s revenue was up 65.7% on a year-over-year basis. On average, research analysts expect that Iovance Biotherapeutics will post -0.49 EPS for the current fiscal year.
Hedge Funds Weigh In On Iovance Biotherapeutics
Several hedge funds have recently added to or reduced their stakes in IOVA. Royal Bank of Canada grew its position in shares of Iovance Biotherapeutics by 161.2% during the 1st quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock worth $1,740,000 after buying an additional 322,680 shares during the period. AQR Capital Management LLC raised its position in shares of 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 acquiring an additional 43,829 shares during the period. Goldman Sachs Group Inc. raised its position in shares of 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 acquiring an additional 1,301,846 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Iovance Biotherapeutics by 202.8% during 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 worth $19,239,000 after acquiring an additional 3,869,617 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Iovance Biotherapeutics by 112.1% during the second quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 25,083 shares during the period. 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.
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