Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of “Buy” from Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) have received a consensus recommendation of “Buy” from the ten analysts that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $24.64.

IOVA has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Wells Fargo & Company lifted their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Barclays raised their target price on Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. JMP Securities boosted their price target on shares of Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 20th. Finally, Chardan Capital raised their price target on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th.

Iovance Biotherapeutics Trading Up 6.1 %

Iovance Biotherapeutics stock opened at $12.50 on Friday. The firm has a market cap of $3.49 billion, a PE ratio of -6.65 and a beta of 0.62. Iovance Biotherapeutics has a 12 month low of $3.21 and a 12 month high of $18.33. The stock’s 50 day simple moving average is $14.07 and its two-hundred day simple moving average is $9.38.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The company had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $1.44 million. During the same period in the previous year, the company posted ($0.64) EPS. On average, equities research analysts forecast that Iovance Biotherapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling

In related news, Director Merrill A. Mcpeak acquired 250,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $9.15 per share, for a total transaction of $2,287,500.00. Following the completion of the purchase, the director now directly owns 320,150 shares of the company’s stock, valued at approximately $2,929,372.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in IOVA. Quadrant Capital Group LLC raised its holdings in Iovance Biotherapeutics by 1,227.8% during the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 4,678 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Iovance Biotherapeutics by 116.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 3,414 shares in the last quarter. Annandale Capital LLC acquired a new stake in Iovance Biotherapeutics in the third quarter valued at $32,000. Nisa Investment Advisors LLC boosted its position in shares of Iovance Biotherapeutics by 284.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 5,577 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new position in shares of Iovance Biotherapeutics during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

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.