Analysts Set Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Target Price at $13.30

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $13.30.

A number of equities research analysts recently weighed in on IOVA shares. Piper Sandler dropped their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Iovance Biotherapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Chardan Capital cut their price objective on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Baird R W lowered shares of Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Mizuho decreased their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday, May 12th.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Accredited Investors Inc. purchased a new stake in Iovance Biotherapeutics during the 1st quarter worth approximately $33,000. WealthTrust Axiom LLC acquired a new stake in shares of Iovance Biotherapeutics during the first quarter worth $33,000. AlphaQuest LLC lifted its stake in shares of Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,794 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at $36,000. Finally, Flputnam Investment Management Co. acquired a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at $37,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Up 3.4%

Shares of IOVA stock opened at $1.82 on Friday. The firm has a market cap of $607.76 million, a price-to-earnings ratio of -1.22 and a beta of 1.06. Iovance Biotherapeutics has a 52-week low of $1.64 and a 52-week high of $12.51. The company’s 50 day moving average is $2.73 and its 200 day moving average is $5.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The company had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm’s revenue was up 6795.1% compared to the same quarter last year. During the same period last year, the business posted ($0.42) EPS. Analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.