Wall Street brokerages expect that Iovance Biotherapeutics Inc (NASDAQ:IOVA) will report earnings per share of ($0.34) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Iovance Biotherapeutics’ earnings. The highest EPS estimate is ($0.30) and the lowest is ($0.36). Iovance Biotherapeutics reported earnings of ($0.31) per share in the same quarter last year, which would indicate a negative year over year growth rate of 9.7%. The firm is scheduled to announce its next earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that Iovance Biotherapeutics will report full-year earnings of ($1.32) per share for the current fiscal year, with EPS estimates ranging from ($1.39) to ($1.24). For the next year, analysts anticipate that the firm will post earnings of ($1.43) per share, with EPS estimates ranging from ($1.62) to ($1.24). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Iovance Biotherapeutics.
Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02).
IOVA has been the topic of several research reports. Zacks Investment Research lowered shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. HC Wainwright set a $22.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Thursday, September 6th. Chardan Capital reissued a “buy” rating and set a $30.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, July 6th. BidaskClub raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Finally, Citigroup reissued an “outperform” rating and set a $25.00 price objective (up previously from $22.00) on shares of Iovance Biotherapeutics in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.39.
NASDAQ:IOVA opened at $11.93 on Friday. Iovance Biotherapeutics has a one year low of $6.60 and a one year high of $19.90. The stock has a market cap of $1.08 billion, a P/E ratio of -8.46 and a beta of 2.72.
A number of large investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its stake in Iovance Biotherapeutics by 16.9% during the second quarter. Northern Trust Corp now owns 1,018,949 shares of the biotechnology company’s stock worth $13,043,000 after acquiring an additional 146,964 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Iovance Biotherapeutics by 5.6% in the second quarter. California Public Employees Retirement System now owns 105,440 shares of the biotechnology company’s stock worth $1,350,000 after buying an additional 5,598 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Iovance Biotherapeutics by 39.7% in the second quarter. Millennium Management LLC now owns 712,922 shares of the biotechnology company’s stock worth $9,125,000 after buying an additional 202,558 shares in the last quarter. RA Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 70.1% in the second quarter. RA Capital Management LLC now owns 1,121,153 shares of the biotechnology company’s stock worth $14,351,000 after buying an additional 462,094 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Iovance Biotherapeutics by 242.5% in the second quarter. Bank of America Corp DE now owns 161,657 shares of the biotechnology company’s stock worth $2,070,000 after buying an additional 114,459 shares in the last quarter. 87.03% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: Stock Symbols and CUSIP Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.