Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $20.00 by Analysts at Robert W. Baird

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target dropped by investment analysts at Robert W. Baird from $24.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 280.23% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday. Piper Sandler decreased their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $20.75.

Iovance Biotherapeutics Trading Down 1.7 %

Shares of IOVA opened at $5.26 on Friday. Iovance Biotherapeutics has a 12 month low of $5.05 and a 12 month high of $18.33. The business’s fifty day simple moving average is $6.27 and its two-hundred day simple moving average is $8.62. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -3.53 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. As a group, research analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently modified their holdings of the business. AlphaQuest LLC lifted its position in Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $36,000. GF Fund Management CO. LTD. purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $47,000. One68 Global Capital LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $74,000. Finally, Quarry LP purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at approximately $74,000. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

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.