Iovance Biotherapeutics (NASDAQ:IOVA) Stock Rating Lowered by BidaskClub

Iovance Biotherapeutics (NASDAQ:IOVA) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. Oppenheimer set a $32.00 price objective on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Wednesday, July 3rd. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Tuesday, July 2nd. Stifel Nicolaus assumed coverage on shares of Iovance Biotherapeutics in a research note on Monday, September 30th. They set a “buy” rating and a $27.00 target price for the company. ValuEngine downgraded shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, B. Riley set a $28.00 target price on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. Iovance Biotherapeutics currently has a consensus rating of “Buy” and an average price target of $28.67.

NASDAQ IOVA opened at $18.27 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.15 and a quick ratio of 12.14. Iovance Biotherapeutics has a 1 year low of $7.26 and a 1 year high of $26.59. The company has a market capitalization of $2.25 billion, a PE ratio of -14.39 and a beta of 1.91. The company has a fifty day moving average of $19.96 and a two-hundred day moving average of $18.32.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.09). On average, research analysts expect that Iovance Biotherapeutics will post -1.5 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Iovance Biotherapeutics by 5.9% during the second quarter. BlackRock Inc. now owns 9,355,972 shares of the biotechnology company’s stock worth $229,410,000 after buying an additional 520,445 shares during the period. Chartwell Investment Partners LLC purchased a new position in Iovance Biotherapeutics during the second quarter worth about $3,322,000. International Biotechnology Trust PLC purchased a new position in Iovance Biotherapeutics during the second quarter worth about $2,543,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Iovance Biotherapeutics by 14.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,700 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Iovance Biotherapeutics by 1,946.3% during the second quarter. Nuveen Asset Management LLC now owns 715,908 shares of the biotechnology company’s stock worth $17,554,000 after purchasing an additional 680,922 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.

Read More: S&P 500 Index

Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.