Iovance Biotherapeutics (NASDAQ:IOVA) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a hold rating to a sell rating in a research report sent to investors on Friday, BidAskClub reports.

Several other brokerages also recently weighed in on IOVA. Piper Jaffray Companies boosted their price target on Iovance Biotherapeutics from $20.00 to $30.00 and gave the company an overweight rating in a report on Friday, June 28th. UBS Group boosted their price target on Iovance Biotherapeutics from $25.00 to $30.00 and gave the company an outperform rating in a report on Monday, June 3rd. ValuEngine upgraded Iovance Biotherapeutics from a buy rating to a strong-buy rating in a report on Thursday, May 23rd. B. Riley set a $24.00 price target on Iovance Biotherapeutics and gave the company a buy rating in a report on Friday, May 17th. Finally, Oppenheimer set a $32.00 price target on Iovance Biotherapeutics and gave the company a buy rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $28.45.

IOVA stock opened at $20.95 on Friday. Iovance Biotherapeutics has a 1 year low of $7.26 and a 1 year high of $26.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.14 and a current ratio of 12.15. The stock’s 50 day moving average price is $23.92 and its 200 day moving average price is $15.67. The firm has a market cap of $2.48 billion, a P/E ratio of -16.50 and a beta of 1.81.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.09). On average, research analysts predict that Iovance Biotherapeutics will post -1.38 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. International Biotechnology Trust PLC bought a new position in Iovance Biotherapeutics in the second quarter worth about $2,543,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Iovance Biotherapeutics by 14.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,700 shares of the biotechnology company’s stock worth $189,000 after acquiring an additional 1,000 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Iovance Biotherapeutics by 1,946.3% in the second quarter. Nuveen Asset Management LLC now owns 715,908 shares of the biotechnology company’s stock worth $17,554,000 after acquiring an additional 680,922 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Iovance Biotherapeutics by 72.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,023,903 shares of the biotechnology company’s stock worth $147,706,000 after acquiring an additional 2,531,169 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in Iovance Biotherapeutics by 32.7% in the second quarter. UBS Asset Management Americas Inc. now owns 62,355 shares of the biotechnology company’s stock worth $1,529,000 after acquiring an additional 15,370 shares during the last quarter. Institutional investors and hedge funds own 99.33% 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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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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