Iovance Biotherapeutics (NASDAQ:IOVA) Given New $11.00 Price Target at Mizuho

Key Points

• Mizuho raised Iovance Biotherapeutics’ price target to $11 from $10 and maintained an “outperform” rating, implying roughly 55% upside from the previous close.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy, two a Hold and two a Sell, resulting in an overall “Hold” rating and an average price target of $8.38.
• Iovance reported quarterly revenue of $198.63 million, well above the $87.83 million consensus estimate, while its adjusted loss of $0.11 per share beat expectations by $0.02; institutional investors own 77.03% of the company.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) had its target price upped by equities research analysts at Mizuho from $10.00 to $11.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Mizuho's target price would indicate a potential upside of 54.93% from the stock's previous close.

Several other research analysts have also weighed in on the company. Robert W. Baird set a $6.00 target price on Iovance Biotherapeutics in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Iovance Biotherapeutics in a report on Thursday, July 2nd. Chardan Capital dropped their price objective on Iovance Biotherapeutics from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Barclays raised their price objective on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Citizens Jmp boosted their target price on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a "market outperform" rating in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.38.

Iovance Biotherapeutics Stock Up 1.7%

Iovance Biotherapeutics stock opened at $7.10 on Tuesday. Iovance Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $7.25. The stock has a market cap of $3.22 billion, a P/E ratio of -9.73 and a beta of 0.71. The company's fifty day simple moving average is $4.71 and its 200-day simple moving average is $3.98.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $198.63 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.Iovance Biotherapeutics's quarterly revenue was up 65.7% compared to the same quarter last year. During the same period last year, the company earned ($0.33) earnings per share. On average, equities research analysts expect that Iovance Biotherapeutics will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Large investors have recently made changes to their positions in the stock. KBC Group NV acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter valued at about $34,000. Granite Investment Partners LLC acquired a new stake in Iovance Biotherapeutics in the 4th quarter worth approximately $29,000. Motley Fool Asset Management LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $29,000. Sanctuary Advisors LLC bought a new stake in Iovance Biotherapeutics during the first quarter worth approximately $38,000. Finally, Fifth Third Bancorp acquired a new position in Iovance Biotherapeutics during the first quarter valued at approximately $39,000. Institutional investors own 77.03% of the company's stock.

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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