Iovance Biotherapeutics (NASDAQ:IOVA) PT Raised to $32.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target boosted by stock analysts at HC Wainwright from $26.00 to $32.00 in a note issued to investors on Monday, June 3rd, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 30.51% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Chardan Capital reissued a “buy” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, March 13th. BidaskClub raised Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Wells Fargo & Co lifted their price target on Iovance Biotherapeutics from $23.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. ValuEngine raised Iovance Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 23rd. Finally, B. Riley reissued a “buy” rating on shares of Iovance Biotherapeutics in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.82.

NASDAQ:IOVA traded up $1.93 during trading hours on Monday, reaching $24.52. The stock had a trading volume of 4,373,111 shares, compared to its average volume of 1,491,054. The firm has a market capitalization of $2.65 billion, a PE ratio of -19.31 and a beta of 1.41. Iovance Biotherapeutics has a 12-month low of $7.26 and a 12-month high of $25.50. The company has a current ratio of 20.09, a quick ratio of 20.09 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $17.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.01). As a group, equities research analysts expect that Iovance Biotherapeutics will post -1.19 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of IOVA. Teachers Advisors LLC lifted its position in shares of Iovance Biotherapeutics by 27.6% during the 3rd quarter. Teachers Advisors LLC now owns 727,043 shares of the biotechnology company’s stock worth $8,179,000 after buying an additional 157,427 shares during the last quarter. Vanguard Group Inc. increased its holdings in Iovance Biotherapeutics by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,048,782 shares of the biotechnology company’s stock worth $45,550,000 after purchasing an additional 302,649 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in Iovance Biotherapeutics by 58.9% in the 4th quarter. Xact Kapitalforvaltning AB now owns 20,500 shares of the biotechnology company’s stock worth $181,000 after purchasing an additional 7,600 shares in the last quarter. Rhumbline Advisers increased its holdings in Iovance Biotherapeutics by 91.1% in the 4th quarter. Rhumbline Advisers now owns 136,088 shares of the biotechnology company’s stock worth $1,204,000 after purchasing an additional 64,879 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Iovance Biotherapeutics in the 4th quarter worth about $180,000. Hedge funds and other institutional investors own 94.96% 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 lifileucel, 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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