Iovance Biotherapeutics (IOVA) PT Raised to $25.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective lifted by research analysts at Citigroup from $22.00 to $25.00 in a report released on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Citigroup’s price target would suggest a potential upside of 109.56% from the stock’s previous close.

IOVA has been the topic of several other research reports. Zacks Investment Research lowered shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. BidaskClub raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. HC Wainwright set a $22.00 price target on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $23.39.

Shares of IOVA stock traded up $1.96 during trading on Friday, hitting $11.93. 10,703,431 shares of the stock traded hands, compared to its average volume of 1,125,750. The firm has a market cap of $1.08 billion, a PE ratio of -8.46 and a beta of 2.72. Iovance Biotherapeutics has a 52-week low of $6.60 and a 52-week high of $19.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.02). On average, sell-side analysts forecast that Iovance Biotherapeutics will post -1.32 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. United Services Automobile Association increased its holdings in Iovance Biotherapeutics by 31.0% in the 2nd quarter. United Services Automobile Association now owns 14,493 shares of the biotechnology company’s stock valued at $186,000 after purchasing an additional 3,431 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Iovance Biotherapeutics by 9.9% in the 1st quarter. Wells Fargo & Company MN now owns 54,832 shares of the biotechnology company’s stock valued at $926,000 after purchasing an additional 4,957 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Iovance Biotherapeutics by 61.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock valued at $178,000 after purchasing an additional 5,318 shares during the last quarter. Rhumbline Advisers increased its holdings in Iovance Biotherapeutics by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 76,424 shares of the biotechnology company’s stock valued at $978,000 after purchasing an additional 5,465 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Iovance Biotherapeutics by 5.6% in the 2nd quarter. California Public Employees Retirement System now owns 105,440 shares of the biotechnology company’s stock valued at $1,350,000 after purchasing an additional 5,598 shares during the last quarter. Hedge funds and other institutional investors own 87.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

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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