Iovance Biotherapeutics (NASDAQ:IOVA) PT Raised to $32.00 at Wells Fargo & Co

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target raised by Wells Fargo & Co from $23.00 to $32.00 in a research report report published on Thursday, May 23rd, The Fly reports. Wells Fargo & Co currently has an outperform rating on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Iovance Biotherapeutics from a buy rating to a hold rating in a research note on Tuesday, January 29th. BidaskClub upgraded shares of Iovance Biotherapeutics from a strong sell rating to a sell rating in a research note on Monday, February 4th. Robert W. Baird started coverage on shares of Iovance Biotherapeutics in a research note on Wednesday, February 6th. They issued an outperform rating and a $29.00 target price on the stock. Chardan Capital reiterated a buy rating and set a $20.00 price target (down previously from $30.00) on shares of Iovance Biotherapeutics in a research report on Thursday, February 28th. Finally, Oppenheimer reiterated a buy rating on shares of Iovance Biotherapeutics in a research report on Tuesday, March 19th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Iovance Biotherapeutics currently has a consensus rating of Buy and a consensus price target of $26.91.

NASDAQ IOVA traded down $0.29 during trading on Thursday, reaching $19.10. The company’s stock had a trading volume of 947,914 shares, compared to its average volume of 1,396,125. Iovance Biotherapeutics has a 1-year low of $7.26 and a 1-year high of $20.75. The stock has a market capitalization of $2.39 billion, a PE ratio of -15.04 and a beta of 1.41. The company has a quick ratio of 20.09, a current ratio of 20.09 and a debt-to-equity ratio of 0.01.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.01). As a group, equities analysts anticipate that Iovance Biotherapeutics will post -1.19 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its position in Iovance Biotherapeutics by 58.6% during the fourth quarter. Advisor Group Inc. now owns 8,118 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 3,000 shares in the last quarter. Kalos Management Inc. acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth about $93,000. Virtu Financial LLC acquired a new stake in Iovance Biotherapeutics during the 1st quarter worth about $99,000. Great West Life Assurance Co. Can grew its position in Iovance Biotherapeutics by 67.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 14,538 shares of the biotechnology company’s stock worth $124,000 after purchasing an additional 5,853 shares during the period. Finally, Moors & Cabot Inc. acquired a new stake in Iovance Biotherapeutics during the 1st quarter worth about $126,000. Hedge funds and other institutional investors own 95.09% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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