Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Lowered to $20.00 at Truist Financial

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) had its price target reduced by Truist Financial to $20.00 in a research report released on Friday morning, Stock Target Advisor reports.

IOVA has been the topic of several other reports. Piper Sandler reduced their target price on Iovance Biotherapeutics from $20.00 to $13.00 and set a neutral rating on the stock in a report on Friday. Stifel Nicolaus raised Iovance Biotherapeutics from a hold rating to a buy rating and boosted their target price for the stock from $23.00 to $25.00 in a report on Friday, January 28th. Chardan Capital dropped their price objective on shares of Iovance Biotherapeutics from $44.00 to $31.00 and set a buy rating for the company in a research report on Friday. Robert W. Baird boosted their price objective on shares of Iovance Biotherapeutics from $30.00 to $34.00 and gave the stock an outperform rating in a research report on Thursday, April 7th. Finally, StockNews.com assumed coverage on shares of Iovance Biotherapeutics in a research report on Thursday, March 31st. They issued a sell rating for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $31.00.

NASDAQ IOVA opened at $7.02 on Friday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -3.07 and a beta of 0.86. Iovance Biotherapeutics has a 1-year low of $6.75 and a 1-year high of $28.00. The stock’s 50 day moving average is $15.72 and its two-hundred day moving average is $16.45.

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.06. The business had revenue of $12.00 million during the quarter. Iovance Biotherapeutics’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. Equities analysts expect that Iovance Biotherapeutics will post -2.46 EPS for the current year.

Several institutional investors have recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in Iovance Biotherapeutics in the 1st quarter worth $107,000. The Manufacturers Life Insurance Company acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth about $1,725,000. BNP Paribas Arbitrage SA lifted its stake in Iovance Biotherapeutics by 377.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 193,315 shares of the biotechnology company’s stock valued at $3,219,000 after purchasing an additional 152,859 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $96,000. Finally, Delphia USA Inc. acquired a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $284,000. Institutional investors own 99.07% of the company’s stock.

Iovance Biotherapeutics Company Profile (Get Rating)

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. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

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