Iovance Biotherapeutics (NASDAQ:IOVA) Coverage Initiated at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group started coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report released on Friday, Analyst Ratings Network reports. The brokerage set a “buy” rating on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the company. Barclays increased their price objective on Iovance Biotherapeutics from $43.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, December 17th. Oppenheimer increased their price target on shares of Iovance Biotherapeutics from $43.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, January 14th. Chardan Capital reaffirmed a “buy” rating on shares of Iovance Biotherapeutics in a research note on Monday, March 1st. Zacks Investment Research raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a research report on Thursday, March 4th. Finally, HC Wainwright raised Iovance Biotherapeutics from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, March 15th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $49.18.

Shares of Iovance Biotherapeutics stock traded up $0.93 on Friday, hitting $31.10. 1,710,651 shares of the company traded hands, compared to its average volume of 1,751,674. Iovance Biotherapeutics has a 12-month low of $24.67 and a 12-month high of $54.21. The company has a market cap of $4.57 billion, a PE ratio of -15.71 and a beta of 0.94. The company has a 50-day moving average price of $31.86 and a 200 day moving average price of $40.03.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Wednesday, February 24th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). Equities analysts expect that Iovance Biotherapeutics will post -1.85 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in Iovance Biotherapeutics during the fourth quarter worth $68,330,000. Lord Abbett & CO. LLC raised its holdings in Iovance Biotherapeutics by 72.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 3,184,488 shares of the biotechnology company’s stock valued at $147,761,000 after acquiring an additional 1,338,048 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Iovance Biotherapeutics by 25.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,423,910 shares of the biotechnology company’s stock worth $205,269,000 after purchasing an additional 904,165 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Iovance Biotherapeutics by 25.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 4,423,910 shares of the biotechnology company’s stock valued at $205,269,000 after purchasing an additional 904,165 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Iovance Biotherapeutics by 47.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,786,529 shares of the biotechnology company’s stock worth $82,895,000 after buying an additional 573,719 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

About Iovance Biotherapeutics

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.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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