Iovance Biotherapeutics (IOVA) Downgraded to “Buy” at ValuEngine

ValuEngine cut shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

A number of other brokerages have also recently weighed in on IOVA. HC Wainwright set a $22.00 price target on Iovance Biotherapeutics and gave the stock a buy rating in a research report on Thursday, September 6th. Zacks Investment Research cut Iovance Biotherapeutics from a buy rating to a hold rating in a research report on Wednesday, July 18th. BidaskClub cut Iovance Biotherapeutics from a hold rating to a sell rating in a research report on Friday, September 28th. Citigroup raised their target price on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an outperform rating in a research report on Friday, October 12th. Finally, Cowen restated a buy rating on shares of Iovance Biotherapeutics in a research report on Tuesday. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Iovance Biotherapeutics has an average rating of Buy and a consensus target price of $23.75.

Shares of Iovance Biotherapeutics stock opened at $8.97 on Tuesday. The company has a market cap of $874.67 million, a PE ratio of -6.36 and a beta of 3.03. Iovance Biotherapeutics has a twelve month low of $7.40 and a twelve month high of $19.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). Research analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of IOVA. FIL Ltd acquired a new stake in Iovance Biotherapeutics in the 3rd quarter valued at approximately $15,032,000. Nantahala Capital Management LLC acquired a new stake in Iovance Biotherapeutics in the 2nd quarter valued at approximately $10,560,000. BlackRock Inc. increased its position in Iovance Biotherapeutics by 8.9% in the 2nd quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock valued at $80,598,000 after acquiring an additional 512,844 shares during the period. RA Capital Management LLC increased its position in Iovance Biotherapeutics by 70.1% in the 2nd quarter. RA Capital Management LLC now owns 1,121,153 shares of the biotechnology company’s stock valued at $14,351,000 after acquiring an additional 462,094 shares during the period. Finally, Cheyne Capital Management UK LLP acquired a new stake in Iovance Biotherapeutics in the 3rd quarter valued at approximately $4,500,000. Hedge funds and other institutional investors own 87.51% 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 LN-144, 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.

Further Reading: How to calculate the intrinsic value of a stock

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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