Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $20.00 by Analysts at Chardan Capital

Key Points

• Chardan Capital has reduced its price target for Iovance Biotherapeutics from $25.00 to $20.00, while maintaining a "buy" rating on the stock.
• The company's stock currently has a consensus rating of "Hold" with an average target price of $11.67, reflecting mixed evaluations from several analysts.
• Iovance Biotherapeutics reported a loss of ($0.33) EPS for the last quarter, falling short of the consensus estimate and showing low revenue compared to expectations.

Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) had its price objective trimmed by Chardan Capital from $25.00 to $20.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company's stock.

A number of other research analysts also recently weighed in on the company. Mizuho dropped their price target on Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a research note on Monday, May 12th. Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group downgraded Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $17.00 to $2.00 in a research note on Friday, May 16th. Barclays lowered their price objective on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Finally, JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $11.90.

Iovance Biotherapeutics Trading Down 20.1%

IOVA stock traded down $0.53 during trading on Friday, reaching $2.11. 43,397,610 shares of the stock were exchanged, compared to its average volume of 26,313,492. The firm's 50 day moving average is $2.22 and its 200 day moving average is $3.24. Iovance Biotherapeutics has a twelve month low of $1.64 and a twelve month high of $12.51. The firm has a market cap of $704.60 million, a P/E ratio of -1.72 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative return on equity of 51.95% and a negative net margin of 161.44%. The firm had revenue of $59.95 million for the quarter, compared to analyst estimates of $67.14 million. As a group, analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently modified their holdings of IOVA. Accredited Investors Inc. purchased a new stake in Iovance Biotherapeutics in the first quarter worth $33,000. WealthTrust Axiom LLC purchased a new stake in Iovance Biotherapeutics in the first quarter worth $33,000. Flputnam Investment Management Co. purchased a new stake in Iovance Biotherapeutics in the first quarter worth $37,000. FNY Investment Advisers LLC purchased a new stake in Iovance Biotherapeutics in the first quarter worth $39,000. Finally, Gould Asset Management LLC CA purchased a new stake in Iovance Biotherapeutics in the first quarter worth $39,000. 77.03% of the stock is 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.