Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Free Report)’s share price gapped down prior to trading on Thursday after JMP Securities lowered their price target on the stock from $25.00 to $23.00. The stock had previously closed at $8.00, but opened at $7.82. JMP Securities currently has a market outperform rating on the stock. Iovance Biotherapeutics shares last traded at $7.97, with a volume of 385,532 shares traded.
A number of other equities analysts have also recently commented on IOVA. Wells Fargo & Company lifted their price target on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Barclays lifted their price objective on Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group lifted their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler lifted their price objective on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.45.
View Our Latest Stock Analysis on Iovance Biotherapeutics
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Iovance Biotherapeutics Price Performance
The company has a 50 day moving average price of $10.57 and a two-hundred day moving average price of $10.74. The stock has a market cap of $2.23 billion, a PE ratio of -4.44 and a beta of 0.80.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.03. The firm had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company’s revenue was up 71400.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.50) earnings per share. As a group, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.
About Iovance Biotherapeutics
Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.
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