Equities analysts forecast that Iovance Biotherapeutics Inc (NASDAQ:IOVA) will post ($0.34) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Iovance Biotherapeutics’ earnings, with estimates ranging from ($0.36) to ($0.30). Iovance Biotherapeutics posted earnings of ($0.31) per share during the same quarter last year, which suggests a negative year over year growth rate of 9.7%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 30th.
On average, analysts expect that Iovance Biotherapeutics will report full year earnings of ($1.32) per share for the current fiscal year, with EPS estimates ranging from ($1.39) to ($1.24). For the next fiscal year, analysts anticipate that the firm will report earnings of ($1.43) per share, with EPS estimates ranging from ($1.62) to ($1.24). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Iovance Biotherapeutics.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.02).
IOVA has been the topic of a number of recent research reports. ValuEngine upgraded shares of Iovance Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. BidaskClub cut shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Zacks Investment Research cut shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. HC Wainwright set a $22.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Wednesday, June 13th. Finally, Chardan Capital reiterated a “buy” rating and set a $30.00 price target on shares of Iovance Biotherapeutics in a report on Friday, July 6th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $22.69.
Iovance Biotherapeutics traded up $0.75, reaching $14.65, during trading on Friday, MarketBeat Ratings reports. The company had a trading volume of 610,945 shares, compared to its average volume of 738,566. Iovance Biotherapeutics has a 52 week low of $4.45 and a 52 week high of $19.90. The company has a market cap of $1.33 billion, a P/E ratio of -10.39 and a beta of 2.72.
Several large investors have recently bought and sold shares of the company. venBio Select Advisor LLC grew its holdings in shares of Iovance Biotherapeutics by 53.8% during the first quarter. venBio Select Advisor LLC now owns 8,078,505 shares of the biotechnology company’s stock valued at $136,527,000 after buying an additional 2,825,055 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Iovance Biotherapeutics by 8.9% during the second quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock valued at $80,598,000 after buying an additional 512,844 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Iovance Biotherapeutics by 6.6% during the first quarter. Franklin Resources Inc. now owns 5,310,163 shares of the biotechnology company’s stock valued at $89,742,000 after buying an additional 330,697 shares during the last quarter. Farallon Capital Management LLC lifted its position in Iovance Biotherapeutics by 122.3% during the first quarter. Farallon Capital Management LLC now owns 4,150,000 shares of the biotechnology company’s stock valued at $70,135,000 after purchasing an additional 2,283,100 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Iovance Biotherapeutics by 2.6% during the second quarter. Victory Capital Management Inc. now owns 2,344,279 shares of the biotechnology company’s stock valued at $30,007,000 after purchasing an additional 58,780 shares during the period. Hedge funds and other institutional investors own 86.53% of the company’s stock.
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.
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