Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) had its price objective cut by equities research analysts at Robert W. Baird from $23.00 to $20.00 in a research report issued on Wednesday, FlyOnTheWall reports. Robert W. Baird’s price target would indicate a potential upside of 180.11% from the stock’s current price.
IOVA has been the topic of several other reports. Stifel Nicolaus increased their price target on shares of Iovance Biotherapeutics from $21.00 to $24.00 in a research note on Tuesday, May 30th. Wells Fargo & Company raised shares of Iovance Biotherapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $11.00 to $17.00 in a research note on Tuesday, May 30th. Finally, StockNews.com cut shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.82.
Read Our Latest Report on IOVA
Iovance Biotherapeutics Trading Up 1.3 %
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last issued its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.34. During the same quarter in the prior year, the firm earned ($0.58) EPS. As a group, equities research analysts predict that Iovance Biotherapeutics will post -2.39 EPS for the current year.
Institutional Trading of Iovance Biotherapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in IOVA. MHR Fund Management LLC bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $76,661,000. Perceptive Advisors LLC increased its position in Iovance Biotherapeutics by 53.8% during the 1st quarter. Perceptive Advisors LLC now owns 15,339,735 shares of the biotechnology company’s stock worth $93,726,000 after purchasing an additional 5,367,955 shares in the last quarter. State Street Corp increased its position in Iovance Biotherapeutics by 71.9% during the 2nd quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after purchasing an additional 4,925,025 shares in the last quarter. Morgan Stanley increased its position in Iovance Biotherapeutics by 374.2% during the 4th quarter. Morgan Stanley now owns 4,969,869 shares of the biotechnology company’s stock worth $31,757,000 after purchasing an additional 3,921,869 shares in the last quarter. Finally, Norges Bank acquired a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $19,009,000. Institutional investors own 89.80% 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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