Wall Street brokerages expect Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) to post earnings of ($0.48) per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Iovance Biotherapeutics' earnings. The highest EPS estimate is ($0.47) and the lowest is ($0.49). Iovance Biotherapeutics reported earnings per share of ($0.55) during the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The firm is scheduled to report its next earnings report on Tuesday, May 4th.
On average, analysts expect that Iovance Biotherapeutics will report full-year earnings of ($2.02) per share for the current fiscal year, with EPS estimates ranging from ($2.17) to ($1.88). For the next financial year, analysts forecast that the business will report earnings of ($1.87) per share, with EPS estimates ranging from ($2.19) to ($1.09). Zacks' EPS calculations are an average based on a survey of analysts that cover Iovance Biotherapeutics.
Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Wednesday, February 24th. The biotechnology company reported ($0.47) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.44) by ($0.03).
A number of brokerages have commented on IOVA. Oppenheimer upped their target price on shares of Iovance Biotherapeutics from $43.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday, January 14th. Chardan Capital reiterated a "buy" rating on shares of Iovance Biotherapeutics in a report on Monday, March 1st. Zacks Investment Research upgraded Iovance Biotherapeutics from a "sell" rating to a "hold" rating and set a $36.00 price target on the stock in a research note on Thursday, March 4th. The Goldman Sachs Group started coverage on shares of Iovance Biotherapeutics in a research note on Friday. They set a "buy" rating on the stock. Finally, HC Wainwright raised Iovance Biotherapeutics from a "neutral" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Monday, March 15th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. The stock presently has a consensus rating of "Buy" and a consensus target price of $49.18.
IOVA stock traded down $0.54 during midday trading on Tuesday, reaching $30.21. The company's stock had a trading volume of 12,736 shares, compared to its average volume of 1,748,694. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -15.89 and a beta of 0.94. Iovance Biotherapeutics has a 1 year low of $24.67 and a 1 year high of $54.21. The stock has a fifty day simple moving average of $31.99 and a two-hundred day simple moving average of $40.04.
Several large investors have recently added to or reduced their stakes in IOVA. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Iovance Biotherapeutics by 17.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 50,969 shares of the biotechnology company's stock valued at $1,678,000 after buying an additional 7,610 shares in the last quarter. Claraphi Advisory Network LLC acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $793,000. King Luther Capital Management Corp purchased a new position in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $2,646,000. Charles Schwab Investment Management Inc. boosted its stake in Iovance Biotherapeutics by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,257 shares of the biotechnology company's stock worth $30,126,000 after purchasing an additional 10,387 shares during the period. Finally, Himension Fund purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $641,000. 94.56% of the stock is owned by institutional investors and hedge funds.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors.
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