Iovance Biotherapeutics (IOVA) Given New $31.00 Price Target at Jefferies Group

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price lifted by equities research analysts at Jefferies Group to $31.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Jefferies Group’s target price points to a potential upside of 84.52% from the company’s previous close.

A number of other research analysts have also commented on the stock. Wells Fargo & Co reiterated a “buy” rating and issued a $23.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, January 29th. HC Wainwright set a $16.00 price target on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Thursday, December 14th. BidaskClub upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. B. Riley reiterated a “buy” rating and issued a $18.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, January 25th. Finally, Chardan Capital reiterated a “buy” rating on shares of Iovance Biotherapeutics in a research note on Monday, January 22nd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.75.

Iovance Biotherapeutics (NASDAQ:IOVA) traded up $0.35 during trading on Friday, hitting $16.80. 1,916,161 shares of the stock traded hands, compared to its average volume of 1,343,461. Iovance Biotherapeutics has a one year low of $4.45 and a one year high of $18.15. The firm has a market cap of $1,461.97, a price-to-earnings ratio of -12.92 and a beta of 5.89.

Several large investors have recently made changes to their positions in IOVA. Schwab Charles Investment Management Inc. acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $1,538,000. Bank of New York Mellon Corp acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $1,796,000. Legal & General Group Plc acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $103,000. Swiss National Bank acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $655,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $528,000. Hedge funds and other institutional investors own 65.19% of the company’s stock.

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Iovance Biotherapeutics Company Profile

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.

Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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