Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “buy” rating restated by research analysts at Wells Fargo & Co in a report issued on Monday. They currently have a $23.00 target price on the biotechnology company’s stock. Wells Fargo & Co’s target price would suggest a potential upside of 59.72% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. HC Wainwright set a $16.00 target price on Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Monday, October 30th. BidaskClub lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Oppenheimer set a $13.00 target price on Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Thursday, October 12th. Jefferies Group reiterated a “buy” rating on shares of Iovance Biotherapeutics in a research note on Sunday, October 29th. Finally, FBR & Co reiterated a “buy” rating and issued a $17.50 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, October 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $16.15.
Iovance Biotherapeutics (NASDAQ IOVA) traded up $0.70 during mid-day trading on Monday, hitting $14.40. The company had a trading volume of 1,890,000 shares, compared to its average volume of 969,882. The company has a market capitalization of $1,050.00, a P/E ratio of -10.99 and a beta of 4.89. Iovance Biotherapeutics has a 12-month low of $4.45 and a 12-month high of $15.10.
Hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $103,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $125,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $133,000. Edge Wealth Management LLC purchased a new stake in shares of Iovance Biotherapeutics during the third quarter worth about $150,000. Finally, People s United Financial Inc. purchased a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $143,000. Institutional investors and hedge funds own 76.35% of the company’s stock.
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About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.
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