Robert W. Baird Raises Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $23.00

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) had its price target raised by Robert W. Baird from $20.00 to $23.00 in a research note published on Tuesday, The Fly reports.

Other research analysts have also recently issued reports about the stock. Chardan Capital reaffirmed a buy rating and set a $29.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, March 1st. Piper Sandler raised shares of Iovance Biotherapeutics from a neutral rating to an overweight rating and lifted their price objective for the company from $11.00 to $14.00 in a research note on Friday, January 27th. HC Wainwright reissued a buy rating and issued a $38.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, March 1st. Oppenheimer decreased their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set an outperform rating on the stock in a research note on Wednesday, March 1st. Finally, Wells Fargo & Company reaffirmed an equal weight rating and set a $11.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, March 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $18.00.

Iovance Biotherapeutics Stock Down 4.7 %

Shares of IOVA stock opened at $7.69 on Tuesday. The firm has a 50 day moving average price of $6.44 and a two-hundred day moving average price of $6.76. The company has a market capitalization of $1.73 billion, a PE ratio of -3.20 and a beta of 0.20. Iovance Biotherapeutics has a 12-month low of $5.28 and a 12-month high of $15.63.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.34. During the same quarter last year, the company earned ($0.58) EPS. As a group, research analysts expect that Iovance Biotherapeutics will post -2.44 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of Iovance Biotherapeutics by 17.6% during the first quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 2,099 shares during the period. Rice Hall James & Associates LLC lifted its position in shares of Iovance Biotherapeutics by 71.8% during the first quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock valued at $18,067,000 after purchasing an additional 453,337 shares in the last quarter. Raymond James & Associates boosted its holdings in Iovance Biotherapeutics by 53.3% during the first quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company’s stock worth $256,000 after purchasing an additional 5,350 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Iovance Biotherapeutics by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company’s stock worth $29,504,000 after purchasing an additional 104,913 shares during the last quarter. Finally, AlphaCrest Capital Management LLC boosted its holdings in Iovance Biotherapeutics by 11.7% during the first quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after purchasing an additional 1,838 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

About Iovance Biotherapeutics

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Iovance Biotherapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of cell therapies as novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors.