Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report)‘s stock had its “buy” rating reissued by Mizuho in a report released on Friday, Benzinga reports. They presently have a $30.00 price objective on the biotechnology company’s stock. Mizuho’s price objective points to a potential upside of 441.52% from the company’s previous close.
Several other research firms have also recently issued reports on IOVA. JMP Securities reissued a “market outperform” rating and issued a $18.00 target price on shares of Iovance Biotherapeutics in a research note on Thursday, August 17th. Robert W. Baird dropped their price target on Iovance Biotherapeutics from $23.00 to $20.00 in a research report on Wednesday, August 9th. Chardan Capital reissued a “buy” rating and issued a $29.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, August 16th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a report on Friday, September 8th. Finally, Stifel Nicolaus decreased their price objective on shares of Iovance Biotherapeutics from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.67.
Iovance Biotherapeutics Price Performance
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.34. The firm had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $3.91 million. During the same quarter in the previous year, the business earned ($0.63) EPS. On average, sell-side analysts forecast that Iovance Biotherapeutics will post -1.87 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. MHR Fund Management LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $76,661,000. Perceptive Advisors LLC increased its position in shares of Iovance Biotherapeutics by 53.8% during the first quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock worth $93,726,000 after acquiring an additional 5,367,955 shares during the period. State Street Corp increased its position in shares of Iovance Biotherapeutics by 71.9% during the second quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after acquiring an additional 4,925,025 shares during the period. BlackRock Inc. increased its position in shares of Iovance Biotherapeutics by 36.5% during the second quarter. BlackRock Inc. now owns 17,001,791 shares of the biotechnology company’s stock worth $119,693,000 after acquiring an additional 4,545,129 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Iovance Biotherapeutics by 374.2% during the fourth quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock valued at $31,757,000 after purchasing an additional 3,921,869 shares in the last quarter. Institutional investors own 81.85% 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 lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.
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