Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives $20.25 Consensus Price Target from Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.25.

IOVA has been the topic of several recent analyst reports. Chardan Capital reduced their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Piper Sandler reduced their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group reduced their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Robert W. Baird reduced their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, February 28th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Man Group plc purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $17,871,000. Assenagon Asset Management S.A. purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $12,927,000. Raymond James Financial Inc. purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $11,568,000. Principal Financial Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after acquiring an additional 1,496,941 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at $8,365,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA opened at $3.54 on Tuesday. The business’s 50 day moving average price is $5.18 and its 200-day moving average price is $7.85. Iovance Biotherapeutics has a fifty-two week low of $3.48 and a fifty-two week high of $15.90. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -2.38 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Sell-side analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.