Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Has Average Price Target of $13.20

Key Points

• Analysts have a “Moderate Buy” consensus on Iovance Biotherapeutics, with nine buys, three holds, and one sell among 13 firms. The average 12-month price target is $13.20, below the reported share price of $14.50.
• Institutional ownership is substantial at 77.03%. BlackRock, Palo Alto Investors, Bank of America, and Dimensional Fund Advisors recently established or increased positions in the company.
• Iovance reported quarterly revenue of $99.31 million, up 65.7% year over year, and an adjusted loss of $0.11 per share that beat expectations. Its lead product, Amtagvi, is an FDA-approved TIL therapy for certain advanced melanoma patients.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.20.

A number of brokerages have recently commented on IOVA. UBS Group raised their target price on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Barclays lifted their target price on shares of Iovance Biotherapeutics from $15.00 to $18.00 and gave the company an "overweight" rating in a report on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Iovance Biotherapeutics in a research report on Tuesday, September 29th. TD Cowen upped their price target on shares of Iovance Biotherapeutics from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Finally, Wells Fargo & Company increased their price target on Iovance Biotherapeutics from $14.00 to $18.00 and gave the company an "overweight" rating in a report on Wednesday, September 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $153,744,000. Invenomic Capital Management LP grew its holdings in Iovance Biotherapeutics by 13.5% during the 4th quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company's stock valued at $32,649,000 after purchasing an additional 1,417,897 shares in the last quarter. Palo Alto Investors LP acquired a new stake in Iovance Biotherapeutics during the 2nd quarter valued at $22,032,229. Bank of America Corp DE purchased a new stake in Iovance Biotherapeutics during the 2nd quarter worth $20,773,000. Finally, Dimensional Fund Advisors LP increased its stake in Iovance Biotherapeutics by 71.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company's stock worth $9,282,000 after buying an additional 1,106,592 shares during the period. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $14.50 on Wednesday. Iovance Biotherapeutics has a one year low of $1.76 and a one year high of $15.30. The company's 50 day moving average price is $9.65 and its 200 day moving average price is $5.99. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -19.86 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly 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. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm had revenue of $99.31 million for the quarter, compared to analysts' expectations of $87.83 million. During the same period in the previous year, the company posted ($0.33) earnings per share. Iovance Biotherapeutics's revenue was up 65.7% compared to the same quarter last year. Sell-side analysts forecast that Iovance Biotherapeutics will post -0.45 EPS for the current fiscal year.

Iovance Biotherapeutics Company Profile

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

Iovance'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 with a PD-1-blocking antibody and, when applicable, a BRAF-targeted therapy.

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