Iovance Biotherapeutics (NASDAQ:IOVA) Rating Increased to Strong-Buy at TD Cowen

Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by analysts at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Citigroup reiterated an “outperform” rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Robert W. Baird set a $6.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Chardan Capital decreased their price target on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. UBS Group boosted their target price on Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Barclays upped their target price on shares of Iovance Biotherapeutics from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $8.06 on Monday. Iovance Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $9.36. The stock has a market cap of $3.65 billion, a P/E ratio of -11.04 and a beta of 0.71. The stock’s 50 day simple moving average is $5.13 and its 200-day simple moving average is $4.17.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $198.63 million for the quarter, compared to analysts’ expectations of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The company’s revenue was up 65.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) EPS. As a group, research analysts expect that Iovance Biotherapeutics will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $153,744,000. Vanguard Group Inc. lifted its position in Iovance Biotherapeutics by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company’s stock worth $74,275,000 after acquiring an additional 3,148,096 shares during the period. State Street Corp increased its holdings in shares of Iovance Biotherapeutics by 51.5% in the fourth quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company’s stock valued at $55,041,000 after purchasing an additional 6,851,486 shares during the period. Invenomic Capital Management LP grew its position in Iovance Biotherapeutics by 13.5% in the 4th quarter. Invenomic Capital Management LP now owns 11,959,505 shares of the biotechnology company’s stock valued at $32,649,000 after buying an additional 1,417,897 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Iovance Biotherapeutics by 30.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,607,564 shares of the biotechnology company’s stock worth $23,499,000 after buying an additional 2,032,062 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical?stage biotechnology company specializing in the development and commercialization of tumor?infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN?144), is an autologous TIL therapy in late?stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next?generation TIL programs such as LN?145 for cervical and other human papillomavirus (HPV)?related cancers, as well as exploratory studies in head and neck, non?small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor?reactive lymphocytes.