Iovance Biotherapeutics Inc (NASDAQ:IOVA) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.75.
IOVA has been the topic of a number of research analyst reports. B. Riley upgraded shares of Iovance Biotherapeutics from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, April 10th. BidaskClub cut shares of Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 4th. ValuEngine upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Iovance Biotherapeutics in a report on Friday, May 11th.
A number of large investors have recently added to or reduced their stakes in IOVA. venBio Select Advisor LLC lifted its stake in Iovance Biotherapeutics by 53.8% in the first quarter. venBio Select Advisor LLC now owns 8,078,505 shares of the biotechnology company’s stock worth $136,527,000 after acquiring an additional 2,825,055 shares during the period. Farallon Capital Management LLC lifted its stake in Iovance Biotherapeutics by 122.3% in the first quarter. Farallon Capital Management LLC now owns 4,150,000 shares of the biotechnology company’s stock worth $70,135,000 after acquiring an additional 2,283,100 shares during the period. BlackRock Inc. lifted its stake in Iovance Biotherapeutics by 18.9% in the first quarter. BlackRock Inc. now owns 5,783,847 shares of the biotechnology company’s stock worth $97,747,000 after acquiring an additional 919,006 shares during the period. Prosight Management LP purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth about $4,055,000. Finally, QVT Financial LP lifted its stake in Iovance Biotherapeutics by 70.1% in the fourth quarter. QVT Financial LP now owns 1,124,295 shares of the biotechnology company’s stock worth $8,615,000 after acquiring an additional 463,486 shares during the period. 86.63% of the stock is owned by institutional investors.
Shares of NASDAQ IOVA traded down $0.15 during mid-day trading on Tuesday, reaching $12.80. The company had a trading volume of 1,025,000 shares, compared to its average volume of 1,050,597. The stock has a market cap of $1.14 billion, a PE ratio of -9.08 and a beta of 5.43. Iovance Biotherapeutics has a 52 week low of $4.45 and a 52 week high of $19.90.
Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.02). research analysts forecast that Iovance Biotherapeutics will post -1.27 earnings per share for the current year.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.