Iovance Biotherapeutics Inc (NASDAQ:IOVA) – Piper Jaffray Companies cut their FY2019 earnings per share (EPS) estimates for Iovance Biotherapeutics in a report issued on Tuesday, November 5th. Piper Jaffray Companies analyst J. Catanzaro now expects that the biotechnology company will post earnings per share of ($1.51) for the year, down from their prior estimate of ($1.46). Piper Jaffray Companies also issued estimates for Iovance Biotherapeutics’ Q4 2019 earnings at ($0.42) EPS, Q1 2020 earnings at ($0.43) EPS, Q2 2020 earnings at ($0.44) EPS, Q3 2020 earnings at ($0.44) EPS, Q4 2020 earnings at ($0.44) EPS, FY2020 earnings at ($1.74) EPS, FY2021 earnings at ($1.73) EPS, FY2022 earnings at ($1.25) EPS and FY2023 earnings at ($0.51) EPS.
Several other analysts have also recently commented on IOVA. Jefferies Financial Group set a $33.00 price target on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Monday, August 26th. Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. BidaskClub upgraded shares of Iovance Biotherapeutics from a “strong sell” rating to a “sell” rating in a report on Thursday, October 24th. B. Riley set a $28.00 price objective on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $33.00 target price on shares of Iovance Biotherapeutics in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. Iovance Biotherapeutics has an average rating of “Buy” and an average price target of $29.27.
Shares of IOVA traded up $2.33 during mid-day trading on Friday, hitting $22.99. 98,398 shares of the company traded hands, compared to its average volume of 1,042,782. Iovance Biotherapeutics has a one year low of $7.26 and a one year high of $26.59. The company has a current ratio of 10.61, a quick ratio of 12.14 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $19.76 and a 200 day moving average of $19.58. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -18.03 and a beta of 1.96.
Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.01).
Institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp bought a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth about $270,000. JPMorgan Chase & Co. grew its holdings in shares of Iovance Biotherapeutics by 4.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 464,176 shares of the biotechnology company’s stock valued at $10,486,000 after purchasing an additional 19,532 shares during the last quarter. Atika Capital Management LLC bought a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at approximately $4,536,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Iovance Biotherapeutics by 21.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 109,000 shares of the biotechnology company’s stock valued at $2,462,000 after purchasing an additional 19,000 shares during the last quarter. Finally, Artal Group S.A. grew its holdings in shares of Iovance Biotherapeutics by 40.0% during the 2nd quarter. Artal Group S.A. now owns 700,000 shares of the biotechnology company’s stock valued at $17,164,000 after purchasing an additional 200,000 shares during the last quarter. 98.85% of the stock is owned by institutional investors.
About Iovance Biotherapeutics
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 lifileucel, 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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