Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Rating of “Hold” by Analysts

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.50.

A number of research firms have weighed in on IOVA. The Goldman Sachs Group reiterated a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday. Barclays lifted their price target on Iovance Biotherapeutics from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. HC Wainwright lowered their price objective on Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, Chardan Capital cut their target price on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 6th.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $2.36 on Friday. The company’s fifty day moving average price is $2.51 and its 200-day moving average price is $2.42. Iovance Biotherapeutics has a 1-year low of $1.64 and a 1-year high of $6.16. The firm has a market capitalization of $936.85 million, a P/E ratio of -1.97 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $67.46 million during the quarter, compared to the consensus estimate of $76.20 million. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. Equities analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Palo Alto Investors LP increased its stake in Iovance Biotherapeutics by 122.1% during the 3rd quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company’s stock worth $16,531,000 after buying an additional 4,188,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after purchasing an additional 3,869,617 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Iovance Biotherapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock valued at $74,275,000 after purchasing an additional 3,148,096 shares in the last quarter. Bank of America Corp DE boosted its stake in Iovance Biotherapeutics by 55.8% during the 3rd quarter. Bank of America Corp DE now owns 6,279,230 shares of the biotechnology company’s stock worth $13,626,000 after purchasing an additional 2,249,662 shares during the last quarter. Finally, Invenomic Capital Management LP grew its holdings in shares of Iovance Biotherapeutics by 27.1% during the third quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock worth $22,875,000 after buying an additional 2,246,945 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.