Iovance Biotherapeutics (IOVA) Price Target Raised to $25.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price upped by Citigroup from $22.00 to $25.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Several other analysts have also issued reports on IOVA. BidaskClub upgraded shares of Iovance Biotherapeutics from a sell rating to a hold rating in a research note on Wednesday, June 27th. HC Wainwright set a $22.00 target price on shares of Iovance Biotherapeutics and gave the stock a buy rating in a research note on Tuesday, August 7th. Chardan Capital reiterated a buy rating and issued a $30.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, July 6th. Finally, Zacks Investment Research lowered shares of Iovance Biotherapeutics from a buy rating to a hold rating in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $23.39.

NASDAQ IOVA opened at $11.93 on Friday. Iovance Biotherapeutics has a 1 year low of $6.60 and a 1 year high of $19.90. The firm has a market capitalization of $1.08 billion, a PE ratio of -8.46 and a beta of 2.72.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Monday, August 6th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.02). On average, research analysts expect that Iovance Biotherapeutics will post -1.32 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp grew its position in Iovance Biotherapeutics by 16.9% during the second quarter. Northern Trust Corp now owns 1,018,949 shares of the biotechnology company’s stock valued at $13,043,000 after buying an additional 146,964 shares during the period. California Public Employees Retirement System grew its position in Iovance Biotherapeutics by 5.6% during the second quarter. California Public Employees Retirement System now owns 105,440 shares of the biotechnology company’s stock valued at $1,350,000 after buying an additional 5,598 shares during the period. Millennium Management LLC grew its position in Iovance Biotherapeutics by 39.7% during the second quarter. Millennium Management LLC now owns 712,922 shares of the biotechnology company’s stock valued at $9,125,000 after buying an additional 202,558 shares during the period. RA Capital Management LLC grew its position in Iovance Biotherapeutics by 70.1% during the second quarter. RA Capital Management LLC now owns 1,121,153 shares of the biotechnology company’s stock valued at $14,351,000 after buying an additional 462,094 shares during the period. Finally, Bank of America Corp DE grew its position in Iovance Biotherapeutics by 242.5% during the second quarter. Bank of America Corp DE now owns 161,657 shares of the biotechnology company’s stock valued at $2,070,000 after buying an additional 114,459 shares during the period. Institutional investors own 87.03% 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 LN-144, 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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