Iovance Biotherapeutics Inc (IOVA) Expected to Post Earnings of -$0.27 Per Share

Brokerages forecast that Iovance Biotherapeutics Inc (NASDAQ:IOVA) will announce earnings of ($0.27) per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Iovance Biotherapeutics’ earnings, with the lowest EPS estimate coming in at ($0.31) and the highest estimate coming in at ($0.22). Iovance Biotherapeutics reported earnings per share of ($0.32) in the same quarter last year, which suggests a positive year over year growth rate of 15.6%. The firm is scheduled to announce its next quarterly earnings results on Monday, March 11th.

According to Zacks, analysts expect that Iovance Biotherapeutics will report full year earnings of ($1.24) per share for the current financial year, with EPS estimates ranging from ($1.32) to ($0.96). For the next year, analysts forecast that the firm will post earnings of ($1.20) per share, with EPS estimates ranging from ($1.50) to ($0.93). Zacks’ EPS averages are an average based on a survey of research analysts that cover Iovance Biotherapeutics.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03).

A number of analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Iovance Biotherapeutics in a research note on Tuesday, September 25th. BidaskClub cut shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, October 17th. ValuEngine cut shares of Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 6th. Finally, Cowen restated a “buy” rating on shares of Iovance Biotherapeutics in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.75.

Several hedge funds and other institutional investors have recently bought and sold shares of IOVA. Trexquant Investment LP bought a new position in Iovance Biotherapeutics during the second quarter worth about $129,000. Amalgamated Bank bought a new position in Iovance Biotherapeutics during the second quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Iovance Biotherapeutics by 61.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 5,318 shares during the period. United Services Automobile Association increased its position in Iovance Biotherapeutics by 31.0% during the second quarter. United Services Automobile Association now owns 14,493 shares of the biotechnology company’s stock worth $186,000 after acquiring an additional 3,431 shares during the period. Finally, Creative Planning increased its position in Iovance Biotherapeutics by 70.8% during the second quarter. Creative Planning now owns 19,650 shares of the biotechnology company’s stock worth $252,000 after acquiring an additional 8,145 shares during the period. Institutional investors own 92.83% of the company’s stock.

NASDAQ IOVA opened at $9.67 on Thursday. Iovance Biotherapeutics has a 52-week low of $7.85 and a 52-week high of $19.90.

About Iovance Biotherapeutics

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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Earnings History and Estimates for Iovance Biotherapeutics (NASDAQ:IOVA)

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