Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst sentiment is mixed: Ten brokerages have issued a consensus “Hold” rating for Iovance Biotherapeutics, comprising six buys, two holds and two sells. The average 12-month price target is $8.75.
• Recent financial results exceeded expectations: Iovance reported a quarterly loss of $0.11 per share versus the expected $0.13 loss, while revenue reached $198.63 million, well above the $87.83 million estimate and up 65.7% year over year.
• The stock remains volatile but institutionally supported: Shares opened at $8.06, compared with a 52-week range of $1.76 to $9.36, and institutional investors and hedge funds own 77.03% of the company.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has earned a consensus recommendation of "Hold" from the ten brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.75.

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Robert W. Baird set a $6.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. UBS Group boosted their price target on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday. Mizuho upped their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 18th. Finally, Citizens Jmp upped their price target on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th.

Iovance Biotherapeutics Trading Down 2.8%

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

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. The company had revenue of $198.63 million for the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The firm's quarterly revenue was up 65.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.33) EPS. Research analysts anticipate that Iovance Biotherapeutics will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. KBC Group NV purchased a new stake in shares of Iovance Biotherapeutics during the 1st quarter worth about $34,000. Granite Investment Partners LLC bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $29,000. Motley Fool Asset Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $29,000. Sanctuary Advisors LLC acquired a new position in Iovance Biotherapeutics in the first quarter worth approximately $38,000. Finally, Fifth Third Bancorp acquired a new position in Iovance Biotherapeutics in the first quarter worth approximately $39,000. 77.03% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

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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