Iovance Biotherapeutics (NASDAQ:IOVA) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $32.00 price target on the biotechnology company’s stock. HC Wainwright also issued estimates for Iovance Biotherapeutics’ Q1 2025 earnings at ($0.23) EPS and Q4 2025 earnings at ($0.13) EPS.

Separately, Piper Sandler dropped their price objective on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Iovance Biotherapeutics Stock Performance

IOVA opened at $4.24 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of -2.85 and a beta of 0.53. Iovance Biotherapeutics has a 52-week low of $3.62 and a 52-week high of $18.24. The business’s fifty day moving average is $6.27 and its 200-day moving average is $8.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. On average, research analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in IOVA. Man Group plc bought a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $17,871,000. Assenagon Asset Management S.A. bought a new position in shares of Iovance Biotherapeutics during the fourth quarter worth about $12,927,000. Raymond James Financial Inc. acquired a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $11,568,000. Principal Financial Group Inc. grew its stake in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $8,365,000. 77.03% of the stock is currently owned by institutional investors.

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.