Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Recommendation of "Buy" by Brokerages

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have been assigned a consensus recommendation of "Buy" from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $24.64.

Several equities analysts have commented on the company. JMP Securities raised their price objective on Iovance Biotherapeutics from $18.00 to $25.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 20th. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, May 31st. The Goldman Sachs Group raised their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Piper Sandler raised their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, March 14th. Finally, Barclays raised their price objective on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several large investors have recently bought and sold shares of IOVA. Quadrant Capital Group LLC grew its stake in shares of Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 4,678 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Iovance Biotherapeutics during the 1st quarter valued at $87,000. Annandale Capital LLC purchased a new stake in Iovance Biotherapeutics during the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC raised its holdings in Iovance Biotherapeutics by 284.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company's stock valued at $61,000 after buying an additional 5,577 shares during the period. Finally, Clear Street Markets LLC purchased a new stake in Iovance Biotherapeutics during the 3rd quarter valued at $35,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Performance

IOVA stock traded down $0.27 on Friday, reaching $8.16. The company's stock had a trading volume of 6,404,808 shares, compared to its average volume of 6,650,153. The business has a fifty day simple moving average of $10.86 and a two-hundred day simple moving average of $10.73. Iovance Biotherapeutics has a 12-month low of $3.21 and a 12-month high of $18.33. The firm has a market cap of $2.28 billion, a PE ratio of -4.53 and a beta of 0.80.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.03. The company had revenue of $0.72 million during the quarter, compared to analyst estimates of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm's revenue was up 71400.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.50) earnings per share. As a group, research analysts anticipate that Iovance Biotherapeutics will post -1.35 earnings per share for the current fiscal year.

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.