HC Wainwright Has Positive Outlook for IOVA FY2027 Earnings

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) - HC Wainwright upped their FY2027 earnings estimates for Iovance Biotherapeutics in a research report issued to clients and investors on Friday, November 8th. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will post earnings of $0.08 per share for the year, up from their prior estimate of $0.05. HC Wainwright currently has a "Buy" rating and a $32.00 target price on the stock. The consensus estimate for Iovance Biotherapeutics' current full-year earnings is ($1.26) per share.

A number of other analysts have also commented on IOVA. StockNews.com upgraded shares of Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. Piper Sandler lowered Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $19.00 to $10.00 in a report 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 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.33.

Iovance Biotherapeutics Price Performance

IOVA stock traded up $0.06 during midday trading on Monday, hitting $10.65. The stock had a trading volume of 8,569,557 shares, compared to its average volume of 7,226,285. Iovance Biotherapeutics has a 1-year low of $3.80 and a 1-year high of $18.33. The business has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $9.80.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.01. Iovance Biotherapeutics had a negative return on equity of 60.50% and a negative net margin of 451.25%. The company had revenue of $31.11 million for the quarter, compared to analysts' expectations of $24.59 million. During the same period in the previous year, the business posted ($0.47) earnings per share. The business's quarterly revenue was up 12969.7% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IOVA. ORG Partners LLC acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at $32,000. Quest Partners LLC boosted its position in Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock valued at $40,000 after buying an additional 4,629 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Iovance Biotherapeutics in the second quarter valued at $58,000. Daiwa Securities Group Inc. increased its stake in shares of Iovance Biotherapeutics by 754.0% during the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock worth $71,000 after buying an additional 7,781 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Iovance Biotherapeutics in the 3rd quarter valued at $89,000. Institutional investors and hedge funds own 77.03% of the company's stock.

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.