Iovance Biotherapeutics (NASDAQ:IOVA) Upgraded at TD Cowen

Key Points

• TD Cowen upgraded Iovance Biotherapeutics to “strong buy,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $8.75.
• Iovance reported quarterly revenue of $198.63 million, substantially exceeding the $87.83 million estimate, and posted an adjusted loss of $0.11 per share versus the expected $0.13 loss.
• Shares opened at $8.06, near the company’s 52-week high of $9.36; institutional investors own approximately 77% of the stock.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) was upgraded by TD Cowen to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

IOVA has been the topic of a number of other reports. Weiss Ratings restated a "sell (d-)" rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Robert W. Baird set a $6.00 price target on Iovance Biotherapeutics in a research note on Friday, August 7th. Barclays increased their target price on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Citigroup reissued an "outperform" rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Finally, Mizuho boosted their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $8.75.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $8.06 on Monday. The firm has a market capitalization of $3.65 billion, a PE ratio of -11.04 and a beta of 0.71. The business has a 50 day simple moving average of $5.13 and a two-hundred day simple moving average of $4.17. Iovance Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $9.36.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The company had revenue of $198.63 million during the quarter, compared to analysts' expectations of $87.83 million. During the same quarter in the previous year, the business earned ($0.33) EPS. Iovance Biotherapeutics's revenue was up 65.7% compared to the same quarter last year. Equities research analysts expect that Iovance Biotherapeutics will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Granite Investment Partners LLC acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter worth $29,000. Motley Fool Asset Management LLC acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $29,000. M&T Bank Corp purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth $31,000. SBI Securities Co. Ltd. raised its position in shares of Iovance Biotherapeutics by 169.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 7,269 shares during the period. Finally, KBC Group NV purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company's lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance's pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance's TIL platform harnesses a patient's own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.

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