Iovance Biotherapeutics (NASDAQ:IOVA) Earns “Buy” Rating from HC Wainwright

Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $32.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 174.44% from the company’s previous close.

IOVA has been the subject of several other research reports. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. UBS Group started coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $10.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $11.66 on Wednesday. The business has a 50-day moving average of $10.18 and a two-hundred day moving average of $9.80. The firm has a market capitalization of $3.26 billion, a PE ratio of -6.98 and a beta of 0.60. Iovance Biotherapeutics has a 12 month low of $3.76 and a 12 month high of $18.33.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC bought a new position in shares of Iovance Biotherapeutics during the second quarter worth about $32,000. Quest Partners LLC raised its holdings in shares of Iovance Biotherapeutics by 1,237.7% during the second 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 last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Iovance Biotherapeutics in the second quarter worth $58,000. Daiwa Securities Group Inc. lifted its holdings in Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 7,781 shares during the period. Finally, Abacus Planning Group Inc. bought a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth about $82,000. 77.03% of the stock is currently owned by institutional investors.

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.