Iovance Biotherapeutics’ (IOVA) “Buy” Rating Reaffirmed at HC Wainwright

Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $32.00 price target on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 174.44% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, UBS Group started coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Iovance Biotherapeutics Stock Up 1.9 %

NASDAQ:IOVA opened at $11.66 on Wednesday. Iovance Biotherapeutics has a 52-week low of $3.76 and a 52-week high of $18.33. The firm has a market cap of $3.26 billion, a P/E ratio of -6.98 and a beta of 0.60. The business’s 50-day moving average price is $10.18 and its 200 day moving average price is $9.80.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The business’s revenue for the quarter was up 12969.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) EPS. Sell-side analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently modified their holdings of the stock. XML Financial LLC increased its position in Iovance Biotherapeutics by 7.4% in the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 1,000 shares during the last quarter. Saturna Capital Corp increased its holdings in Iovance Biotherapeutics by 7.0% in the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after buying an additional 1,353 shares during the last quarter. Diversified Trust Co raised its position in Iovance Biotherapeutics by 9.5% during the second quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock valued at $136,000 after acquiring an additional 1,469 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Iovance Biotherapeutics by 11.6% in the third quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock valued at $160,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Xponance Inc. grew its position in Iovance Biotherapeutics by 13.0% in the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 1,873 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

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.