Iovance Biotherapeutics Inc (IOVA) Receives $22.75 Average PT from Brokerages

Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) have received an average rating of “Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.75.

Several brokerages recently commented on IOVA. BidaskClub raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, May 11th. B. Riley increased their price objective on shares of Iovance Biotherapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, May 11th. Finally, ValuEngine raised shares of Iovance Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd.

Several institutional investors have recently made changes to their positions in IOVA. Schwab Charles Investment Management Inc. increased its holdings in Iovance Biotherapeutics by 36.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 302,175 shares of the biotechnology company’s stock worth $2,418,000 after buying an additional 80,160 shares during the period. Teacher Retirement System of Texas acquired a new position in Iovance Biotherapeutics in the 4th quarter worth approximately $154,000. The Manufacturers Life Insurance Company increased its holdings in Iovance Biotherapeutics by 12.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 45,817 shares of the biotechnology company’s stock worth $367,000 after buying an additional 5,110 shares during the period. Bank of New York Mellon Corp increased its holdings in Iovance Biotherapeutics by 22.8% in the 4th quarter. Bank of New York Mellon Corp now owns 321,350 shares of the biotechnology company’s stock worth $2,571,000 after buying an additional 59,658 shares during the period. Finally, BlackRock Inc. increased its holdings in 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 buying an additional 401,743 shares during the period. 86.63% of the stock is owned by hedge funds and other institutional investors.

Shares of IOVA stock traded down $0.15 during mid-day trading on Tuesday, hitting $12.80. 1,025,000 shares of the stock traded hands, compared to its average volume of 1,050,597. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -9.08 and a beta of 5.43. Iovance Biotherapeutics has a 52-week low of $4.45 and a 52-week high of $19.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly 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). sell-side analysts expect that Iovance Biotherapeutics will post -1.27 EPS for the current year.

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 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.

Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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