HC Wainwright set a $22.00 target price on Iovance Biotherapeutics (NASDAQ:IOVA) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the biotechnology company’s stock.
Several other equities research analysts have also issued reports on IOVA. BidaskClub lowered shares of Iovance Biotherapeutics from a hold rating to a sell rating in a report on Tuesday. B. Riley boosted their price target on shares of Iovance Biotherapeutics from $22.00 to $24.00 and gave the company a buy rating in a report on Friday, May 11th. Finally, ValuEngine raised shares of Iovance Biotherapeutics from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $20.81.
Iovance Biotherapeutics opened at $13.40 on Wednesday, MarketBeat reports. The firm has a market cap of $1.17 billion, a P/E ratio of -9.50 and a beta of 5.43. Iovance Biotherapeutics has a one year low of $4.45 and a one year high of $19.90.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, May 10th. The biotechnology company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.02). equities analysts predict that Iovance Biotherapeutics will post -1.27 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the business. QVT Financial LP increased its holdings in Iovance Biotherapeutics by 70.1% in the 4th quarter. QVT Financial LP now owns 1,124,295 shares of the biotechnology company’s stock valued at $8,615,000 after buying an additional 463,486 shares during the period. Farallon Capital Management LLC grew its holdings in shares of Iovance Biotherapeutics by 119.6% in the 4th quarter. Farallon Capital Management LLC now owns 1,866,900 shares of the biotechnology company’s stock worth $14,935,000 after purchasing an additional 1,016,900 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Iovance Biotherapeutics by 9.0% in the 4th quarter. BlackRock Inc. now owns 4,864,841 shares of the biotechnology company’s stock worth $38,918,000 after purchasing an additional 401,743 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Iovance Biotherapeutics by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 574,043 shares of the biotechnology company’s stock worth $4,592,000 after purchasing an additional 49,151 shares during the last quarter. Finally, Consonance Capital Management LP bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth about $1,859,000. 86.63% of the stock is currently owned by hedge funds and other institutional investors.
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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