Iovance Biotherapeutics (NASDAQ:IOVA) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) announced its earnings results on Thursday. The biotechnology company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.03, Briefing.com reports. The firm had revenue of $0.72 million for the quarter, compared to analysts' expectations of $1.99 million. During the same quarter last year, the business earned ($0.50) earnings per share. The business's revenue was up 71400.0% compared to the same quarter last year.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock traded down $2.48 during trading on Friday, reaching $10.97. The company had a trading volume of 19,119,878 shares, compared to its average volume of 4,260,394. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -5.83 and a beta of 0.66. The stock's 50 day moving average price is $13.60 and its two-hundred day moving average price is $9.81. Iovance Biotherapeutics has a 12-month low of $3.21 and a 12-month high of $18.33.

Analyst Ratings Changes

A number of equities research analysts have commented on IOVA shares. The Goldman Sachs Group increased their price objective on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Chardan Capital raised their target price on Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. Wells Fargo & Company boosted their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, March 1st. Barclays boosted their price objective on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. Finally, StockNews.com raised shares of Iovance Biotherapeutics to a "sell" rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.64.

Insider Activity

In other news, Director Merrill A. Mcpeak bought 250,000 shares of Iovance Biotherapeutics stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average price of $9.15 per share, for a total transaction of $2,287,500.00. Following the completion of the acquisition, the director now owns 320,150 shares of the company's stock, valued at $2,929,372.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.40% of the company's stock.

About Iovance Biotherapeutics

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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