ValuEngine Upgrades Iovance Biotherapeutics (NASDAQ:IOVA) to Buy

Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. JMP Securities started coverage on shares of Iovance Biotherapeutics in a report on Wednesday, December 18th. They set an “outperform” rating and a $38.00 price target for the company. Piper Sandler lifted their price target on shares of Iovance Biotherapeutics to and gave the company an “outperform” rating in a report on Wednesday, February 26th. Wells Fargo & Co lifted their price target on shares of Iovance Biotherapeutics from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Zacks Investment Research raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, BidaskClub downgraded shares of Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.62.

Shares of Iovance Biotherapeutics stock traded up $0.13 during trading on Thursday, hitting $29.19. 1,345,201 shares of the company’s stock traded hands, compared to its average volume of 1,868,230. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.10 and a quick ratio of 8.10. The firm’s fifty day moving average price is $28.49 and its 200 day moving average price is $24.27. Iovance Biotherapeutics has a twelve month low of $10.15 and a twelve month high of $38.92. The company has a market cap of $3.68 billion, a PE ratio of -18.47 and a beta of 1.34.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Tuesday, February 25th. The biotechnology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.08). As a group, equities research analysts anticipate that Iovance Biotherapeutics will post -2.11 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Crestwood Advisors Group LLC grew its holdings in Iovance Biotherapeutics by 5.0% during the fourth quarter. Crestwood Advisors Group LLC now owns 10,500 shares of the biotechnology company’s stock valued at $291,000 after purchasing an additional 500 shares during the period. Edge Wealth Management LLC grew its holdings in Iovance Biotherapeutics by 8.3% during the fourth quarter. Edge Wealth Management LLC now owns 9,114 shares of the biotechnology company’s stock valued at $252,000 after purchasing an additional 700 shares during the period. US Bancorp DE grew its holdings in Iovance Biotherapeutics by 72.3% during the fourth quarter. US Bancorp DE now owns 2,111 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 886 shares during the period. American International Group Inc. grew its holdings in Iovance Biotherapeutics by 1.3% during the fourth quarter. American International Group Inc. now owns 73,368 shares of the biotechnology company’s stock valued at $2,031,000 after purchasing an additional 953 shares during the period. Finally, Pacitti Group Inc. acquired a new position in Iovance Biotherapeutics during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 99.05% 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.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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