Recent Investment Analysts’ Ratings Changes for Iovance Biotherapeutics (IOVA)

A number of firms have modified their ratings and price targets on shares of Iovance Biotherapeutics (NASDAQ: IOVA) recently:

  • 4/5/2019 – Iovance Biotherapeutics had its “buy” rating reaffirmed by analysts at B. Riley.
  • 4/4/2019 – Iovance Biotherapeutics was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/4/2019 – Iovance Biotherapeutics was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/2/2019 – Iovance Biotherapeutics had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $20.00 price target on the stock.
  • 4/1/2019 – Iovance Biotherapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $26.00 price target on the stock. They 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.””
  • 3/19/2019 – Iovance Biotherapeutics had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 3/13/2019 – Iovance Biotherapeutics had its “buy” rating reaffirmed by analysts at Chardan Capital.
  • 2/28/2019 – Iovance Biotherapeutics had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $20.00 price target on the stock, down previously from $30.00. They wrote, “We expect more visibility as Iovance plans to engage with the FDA in 2019 to define a regulatory path for LN-145 in 2nd-line cervical cancer, for which it recently received Fast Track Designation. We expect Iovance will be able to advance this program relatively quickly based on learnings from lifileucel. We expect to hear more on manufacturing and preclinical programs in 2019, as the company’s focus expands beyond the current phase II trials. Iovance is in the late stages of site selection for a manufacturing facility and expects to provide updates in 2Q19. To us, establishing an internal manufacturing facility will be a key step in commercial execution. Iovance is also planning to file an IND for peripheral blood lymphocytes (PBL) in hematological malignancies in 2019. We understand this program uses a distinct and shorter manufacturing process.””

NASDAQ:IOVA traded down $0.14 during trading hours on Thursday, reaching $11.54. The company had a trading volume of 754,090 shares, compared to its average volume of 1,038,694. Iovance Biotherapeutics Inc has a one year low of $7.26 and a one year high of $18.25. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -9.09 and a beta of 1.91.

A number of large investors have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in shares of Iovance Biotherapeutics by 58.6% during the fourth quarter. Advisor Group Inc. now owns 8,118 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 3,000 shares during the last quarter. Kalos Management Inc. bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $93,000. Great West Life Assurance Co. Can grew its holdings in shares of Iovance Biotherapeutics by 67.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 14,538 shares of the biotechnology company’s stock worth $124,000 after purchasing an additional 5,853 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at $130,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Iovance Biotherapeutics by 66.9% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,374 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 6,162 shares during the period. Hedge funds and other institutional investors own 95.92% of the company’s stock.

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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