Iovance Biotherapeutics Inc (IOVA) Receives $23.75 Consensus Price Target from Analysts

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Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) have received an average recommendation of “Buy” from the ten research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.75.

Several equities analysts have recently commented on the stock. HC Wainwright set a $22.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Thursday, September 6th. Zacks Investment Research lowered shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Chardan Capital restated a “buy” rating and issued a $30.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, July 6th. BidaskClub lowered shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, Citigroup upped their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, October 12th.

Shares of IOVA stock traded up $0.04 during trading hours on Monday, hitting $9.12. The company had a trading volume of 10,396 shares, compared to its average volume of 2,130,576. Iovance Biotherapeutics has a fifty-two week low of $7.00 and a fifty-two week high of $19.90. The firm has a market cap of $862.24 million, a P/E ratio of -6.48 and a beta of 2.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Monday, August 6th. The biotechnology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). Analysts forecast that Iovance Biotherapeutics will post -1.27 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Fred Alger Management Inc. acquired a new stake in Iovance Biotherapeutics during the 2nd quarter worth approximately $102,000. Trexquant Investment LP acquired a new stake in Iovance Biotherapeutics during the 2nd quarter worth approximately $129,000. Xact Kapitalforvaltning AB acquired a new stake in Iovance Biotherapeutics during the 1st quarter worth approximately $174,000. Amalgamated Bank acquired a new stake in Iovance Biotherapeutics during the 2nd quarter worth approximately $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Iovance Biotherapeutics by 61.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock worth $178,000 after buying an additional 5,318 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

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.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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