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

Key Points

• Analyst sentiment is mixed: Iovance Biotherapeutics has an average “Hold” rating from 11 analysts, with seven buys, two holds and two sells. The average 12-month price target is $9.11.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 77.03% of IOVA shares, with several firms establishing or expanding positions during the second quarter.
• Quarterly results exceeded expectations: Iovance reported an adjusted loss of $0.11 per share versus the $0.13 expected, while revenue rose 65.7% year over year to $99.31 million. The company’s lead product, Amtagvi, is an FDA-approved TIL therapy for certain advanced melanoma patients.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has earned an average rating of "Hold" from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $9.1111.

Several analysts recently commented on IOVA shares. Robert W. Baird set a $6.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. TD Cowen lifted their price target on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, August 24th. Citizens Jmp lifted their price target on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Finally, UBS Group boosted their price target on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of IOVA. Rice Hall James & Associates LLC acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $6,406,000. Hennion & Walsh Asset Management Inc. grew its holdings in Iovance Biotherapeutics by 100.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 818,913 shares of the biotechnology company's stock valued at $3,407,000 after buying an additional 409,449 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Iovance Biotherapeutics during the 2nd quarter valued at $2,726,000. Palo Alto Investors LP purchased a new position in Iovance Biotherapeutics during the second quarter worth $22,032,229. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Iovance Biotherapeutics during the second quarter worth $449,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA opened at $10.25 on Friday. Iovance Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $10.98. The stock has a fifty day moving average price of $6.88 and a two-hundred day moving average price of $4.94. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -14.04 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company had revenue of $99.31 million for the quarter, compared to analyst estimates of $87.83 million. During the same period in the previous year, the firm earned ($0.33) EPS. The business's revenue was up 65.7% on a year-over-year basis. On average, analysts predict that Iovance Biotherapeutics will post -0.49 EPS for the current year.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient's tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company's lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.

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