HC Wainwright Increases Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $32.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target raised by analysts at HC Wainwright from $26.00 to $32.00 in a research report issued to clients and investors on Monday, June 3rd, The Fly reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 49.39% from the stock’s current price.

A number of other analysts have also recently weighed in on IOVA. BidaskClub upgraded 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 Iovance Biotherapeutics in a research report on Wednesday, February 6th. They set an “outperform” rating and a $29.00 target price on the stock. Chardan Capital reiterated a “buy” rating and set a $20.00 target price (down previously from $30.00) on shares of Iovance Biotherapeutics in a research report on Thursday, February 28th. Oppenheimer reiterated a “buy” rating on shares of Iovance Biotherapeutics in a research report on Tuesday, March 19th. Finally, ValuEngine upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.91.

NASDAQ:IOVA traded down $0.33 during midday trading on Monday, reaching $21.42. The company had a trading volume of 801,577 shares, compared to its average volume of 1,451,410. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -16.87 and a beta of 1.41. The business’s fifty day simple moving average is $17.05. Iovance Biotherapeutics has a 12-month low of $7.26 and a 12-month high of $23.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 20.09 and a quick ratio of 20.09.

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

Several large investors have recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in Iovance Biotherapeutics by 27.6% in the third quarter. Teachers Advisors LLC now owns 727,043 shares of the biotechnology company’s stock valued at $8,179,000 after buying an additional 157,427 shares in the last quarter. Vanguard Group Inc. raised its stake in Iovance Biotherapeutics by 8.1% in the third quarter. Vanguard Group Inc. now owns 4,048,782 shares of the biotechnology company’s stock valued at $45,550,000 after buying an additional 302,649 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Iovance Biotherapeutics by 58.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 20,500 shares of the biotechnology company’s stock valued at $181,000 after buying an additional 7,600 shares in the last quarter. Rhumbline Advisers raised its stake in Iovance Biotherapeutics by 91.1% in the fourth quarter. Rhumbline Advisers now owns 136,088 shares of the biotechnology company’s stock valued at $1,204,000 after buying an additional 64,879 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter valued at $180,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

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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