Iovance Biotherapeutics (NASDAQ:IOVA) Given New $8.00 Price Target at The Goldman Sachs Group

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) had its target price decreased by equities researchers at The Goldman Sachs Group from $16.00 to $8.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. The Goldman Sachs Group's price objective points to a potential upside of 317.75% from the stock's current price.

Several other equities analysts have also recently weighed in on IOVA. JMP Securities restated a "market perform" rating on shares of Iovance Biotherapeutics in a report on Friday. Piper Sandler cut their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Robert W. Baird cut their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Baird R W downgraded shares of Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday. Finally, Mizuho lowered their price objective on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $14.80.

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock traded up $0.17 during trading hours on Monday, hitting $1.92. The company had a trading volume of 26,341,955 shares, compared to its average volume of 8,273,034. The firm has a market capitalization of $639.48 million, a price-to-earnings ratio of -1.29 and a beta of 1.06. Iovance Biotherapeutics has a 12 month low of $1.65 and a 12 month high of $12.51. The firm's fifty day moving average is $3.36 and its 200 day moving average is $6.07.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). The firm had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Iovance Biotherapeutics's revenue for the quarter was up 6795.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.42) EPS. On average, sell-side analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Accredited Investors Inc. acquired a new position in Iovance Biotherapeutics during the first quarter valued at approximately $33,000. AlphaQuest LLC increased its stake in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after buying an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Iovance Biotherapeutics in the fourth quarter worth $36,000. FNY Investment Advisers LLC bought a new stake in shares of Iovance Biotherapeutics in the first quarter worth $39,000. Finally, Gould Asset Management LLC CA bought a new stake in shares of Iovance Biotherapeutics in the first quarter worth $39,000. Hedge funds and other institutional investors own 77.03% of the company's stock.

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.

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