Brokers Set Expectations for Iovance Biotherapeutics Inc’s FY2023 Earnings (IOVA)

Iovance Biotherapeutics Inc (NASDAQ:IOVA) – Stock analysts at Oppenheimer issued their FY2023 EPS estimates for shares of Iovance Biotherapeutics in a research report issued to clients and investors on Friday, January 11th. Oppenheimer analyst M. Breidenbach expects that the biotechnology company will post earnings per share of $1.49 for the year. Oppenheimer has a “Buy” rating and a $25.00 price objective on the stock.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.03).

Several other equities analysts have also commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Iovance Biotherapeutics in a research note on Tuesday, September 25th. Citigroup increased their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, October 12th. BidaskClub lowered shares of Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. ValuEngine lowered shares of Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 6th. Finally, Cowen reiterated a “buy” rating on shares of Iovance Biotherapeutics in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. Iovance Biotherapeutics currently has a consensus rating of “Buy” and an average target price of $24.38.

Shares of Iovance Biotherapeutics stock opened at $9.42 on Monday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.68 and a beta of 2.42. Iovance Biotherapeutics has a 52 week low of $7.26 and a 52 week high of $19.90.

In other news, Director Wayne P. Rothbaum acquired 921,053 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was acquired at an average cost of $10.31 per share, with a total value of $9,496,056.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iain D. Dukes acquired 12,000 shares of the firm’s stock in a transaction dated Tuesday, December 18th. The stock was purchased at an average cost of $8.65 per share, with a total value of $103,800.00. Following the completion of the acquisition, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $103,800. The disclosure for this purchase can be found here. Insiders acquired 2,164,106 shares of company stock worth $22,150,897 over the last quarter. 9.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Trexquant Investment LP boosted its holdings in shares of Iovance Biotherapeutics by 144.5% in the third quarter. Trexquant Investment LP now owns 24,732 shares of the biotechnology company’s stock valued at $278,000 after acquiring an additional 14,618 shares during the period. Bellevue Group AG acquired a new stake in shares of Iovance Biotherapeutics in the third quarter valued at approximately $281,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Iovance Biotherapeutics in the third quarter valued at approximately $282,000. Seven Eight Capital LP acquired a new stake in shares of Iovance Biotherapeutics in the third quarter valued at approximately $311,000. Finally, Dupont Capital Management Corp acquired a new stake in shares of Iovance Biotherapeutics in the third quarter valued at approximately $314,000. 73.27% of the stock is owned by institutional investors and hedge funds.

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 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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Earnings History and Estimates for Iovance Biotherapeutics (NASDAQ:IOVA)

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