Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday, April 1st, Stock Target Advisor reports. They currently have a $26.00 price target on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 134.23% from the stock’s current price.
The analysts wrote, “Valuation and impediments to achieving price target. We reiterate our Buy rating and price target of $26. Our target is based on our clinical net present value (NPV) model, which derives its primary value from LN-144 for metastatic melanoma currently. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.””
Other research analysts also recently issued research reports about the company. ValuEngine downgraded Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 7th. Chardan Capital restated a “buy” rating and set a $20.00 price target (down from $30.00) on shares of Iovance Biotherapeutics in a report on Thursday, February 28th. Oppenheimer set a $25.00 price target on Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Friday, January 11th. Zacks Investment Research upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Friday, January 4th. Finally, B. Riley initiated coverage on Iovance Biotherapeutics in a report on Monday, December 31st. They issued a “buy” rating and a $24.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Iovance Biotherapeutics currently has an average rating of “Buy” and a consensus target price of $22.86.
Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Wednesday, February 27th. The biotechnology company reported ($0.27) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.27). As a group, equities research analysts forecast that Iovance Biotherapeutics will post -1.22 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC increased its holdings in Iovance Biotherapeutics by 67.9% in the 4th quarter. Perceptive Advisors LLC now owns 12,241,111 shares of the biotechnology company’s stock worth $108,333,000 after acquiring an additional 4,950,912 shares during the last quarter. venBio Select Advisor LLC boosted its stake in Iovance Biotherapeutics by 18.5% in the 4th quarter. venBio Select Advisor LLC now owns 10,261,039 shares of the biotechnology company’s stock worth $90,810,000 after purchasing an additional 1,598,319 shares during the period. BlackRock Inc. boosted its stake in Iovance Biotherapeutics by 32.0% in the 4th quarter. BlackRock Inc. now owns 8,780,191 shares of the biotechnology company’s stock worth $77,706,000 after purchasing an additional 2,126,213 shares during the period. Broadfin Capital LLC boosted its stake in Iovance Biotherapeutics by 21.6% in the 4th quarter. Broadfin Capital LLC now owns 5,951,153 shares of the biotechnology company’s stock worth $52,668,000 after purchasing an additional 1,056,792 shares during the period. Finally, Great Point Partners LLC boosted its stake in Iovance Biotherapeutics by 59.2% in the 4th quarter. Great Point Partners LLC now owns 5,567,348 shares of the biotechnology company’s stock worth $49,271,000 after purchasing an additional 2,071,008 shares during the period. 96.33% of the stock is owned by hedge funds and other institutional investors.
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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