Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Iovance Biotherapeutics has received a consensus rating of "Hold" from thirteen brokerages, with one sell recommendation, six holds, and six buys.
• The average one-year price target for Iovance Biotherapeutics is $11.90, indicating potential growth despite recent downgrades from multiple analysts.
• Iovance reported a loss of $0.33 per share in its latest quarterly earnings, missing the consensus estimate and highlighting ongoing financial struggles.

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have been assigned an average rating of "Hold" from the fourteen brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $11.90.

A number of equities research analysts have commented on the stock. UBS Group cut shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $17.00 to $2.00 in a research note on Friday, May 16th. Chardan Capital dropped their price objective on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, August 8th. The Goldman Sachs Group lowered shares of Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 15th. Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Citizens Jmp downgraded shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a report on Friday, May 9th.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock traded up $0.13 during midday trading on Friday, reaching $2.63. 21,967,934 shares of the stock were exchanged, compared to its average volume of 13,782,888. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $12.51. The firm has a market cap of $952.40 million, a PE ratio of -2.17 and a beta of 0.88. The company's fifty day moving average is $2.28 and its 200-day moving average is $3.06.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The company had revenue of $59.95 million during the quarter, compared to the consensus estimate of $67.14 million. Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%. On average, sell-side analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in Iovance Biotherapeutics by 277.4% in the second quarter. Tower Research Capital LLC TRC now owns 41,723 shares of the biotechnology company's stock valued at $72,000 after purchasing an additional 30,668 shares during the last quarter. Voleon Capital Management LP acquired a new position in Iovance Biotherapeutics in the second quarter valued at $877,000. Orion Investment Co increased its stake in Iovance Biotherapeutics by 98.7% in the second quarter. Orion Investment Co now owns 2,338,563 shares of the biotechnology company's stock valued at $4,022,000 after purchasing an additional 1,161,710 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Iovance Biotherapeutics by 79.8% in the second quarter. BNP Paribas Financial Markets now owns 41,623 shares of the biotechnology company's stock valued at $72,000 after purchasing an additional 18,471 shares during the last quarter. Finally, Brevan Howard Capital Management LP increased its stake in Iovance Biotherapeutics by 236.2% in the second quarter. Brevan Howard Capital Management LP now owns 361,803 shares of the biotechnology company's stock valued at $622,000 after purchasing an additional 254,188 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

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.