JMP Securities Cuts Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $23.00

Iovance Biotherapeutics (NASDAQ:IOVAFree Report) had its target price decreased by JMP Securities from $25.00 to $23.00 in a report published on Thursday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler lifted their target price on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an overweight rating in a research report on Thursday, March 14th. HC Wainwright restated a buy rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, May 31st. Wells Fargo & Company boosted their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an overweight rating in a research report on Friday, March 1st. Barclays boosted their price objective on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group lifted their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a buy rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $24.45.

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Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $8.01 on Thursday. The firm has a fifty day moving average price of $10.38 and a two-hundred day moving average price of $10.79. Iovance Biotherapeutics has a one year low of $3.21 and a one year high of $18.33. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -4.45 and a beta of 0.80.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.03. The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $1.99 million. Iovance Biotherapeutics had a negative net margin of 23,615.70% and a negative return on equity of 71.45%. The business’s quarterly revenue was up 71400.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.50) EPS. Equities research analysts expect that Iovance Biotherapeutics will post -1.35 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of IOVA. Amalgamated Bank increased its holdings in shares of Iovance Biotherapeutics by 24.8% in the 3rd quarter. Amalgamated Bank now owns 22,306 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 4,434 shares in the last quarter. Swiss National Bank increased its holdings in shares of Iovance Biotherapeutics by 18.9% in the 3rd quarter. Swiss National Bank now owns 489,356 shares of the biotechnology company’s stock worth $2,227,000 after purchasing an additional 77,700 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Iovance Biotherapeutics by 13.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,692,533 shares of the biotechnology company’s stock worth $7,701,000 after purchasing an additional 201,311 shares in the last quarter. Pathstone Family Office LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth $48,000. Finally, Rathbones Group PLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth $324,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

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Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.

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