Iovance Biotherapeutics’ (IOVA) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research report sent to investors on Friday, Benzinga reports. They currently have a $32.00 price target on the biotechnology company’s stock.

IOVA has been the topic of several other research reports. The Goldman Sachs Group upped their price target on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Piper Sandler upped their price target on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an overweight rating in a research note on Thursday, March 14th. Barclays upped their price objective on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Finally, JMP Securities lowered their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a market outperform rating on the stock in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $24.45.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $8.02 on Friday. Iovance Biotherapeutics has a 1 year low of $3.21 and a 1 year high of $18.33. The company has a market cap of $2.24 billion, a PE ratio of -4.46 and a beta of 0.80. The stock’s 50-day moving average is $10.02 and its 200 day moving average is $10.79.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. During the same quarter in the prior year, the business earned ($0.50) EPS. The business’s revenue for the quarter was up 71400.0% on a year-over-year basis. Analysts expect that Iovance Biotherapeutics will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Annandale Capital LLC purchased a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth $32,000. Quadrant Capital Group LLC increased its stake in shares of Iovance Biotherapeutics by 1,227.8% in the 4th 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. Nisa Investment Advisors LLC increased its stake in shares of Iovance Biotherapeutics by 284.0% in 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. Signaturefd LLC increased its stake in shares of Iovance Biotherapeutics by 256.6% in the 4th quarter. Signaturefd LLC now owns 8,723 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 6,277 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Iovance Biotherapeutics in the 1st quarter worth $87,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.