Robert W. Baird Lowers Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $20.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price decreased by equities research analysts at Robert W. Baird from $24.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target indicates a potential upside of 371.70% from the stock’s current price.

A number of other equities research analysts have also weighed in on IOVA. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday. Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

Iovance Biotherapeutics Trading Down 19.4 %

IOVA opened at $4.24 on Friday. The company has a fifty day simple moving average of $6.21 and a 200 day simple moving average of $8.56. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -2.85 and a beta of 0.53. Iovance Biotherapeutics has a twelve month low of $3.62 and a twelve month high of $18.24.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). The business had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. On average, analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IOVA. Creative Planning boosted its holdings in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 1,896 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Iovance Biotherapeutics by 31.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after buying an additional 2,624 shares during the period. Rice Hall James & Associates LLC boosted its holdings in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company’s stock valued at $15,767,000 after buying an additional 43,132 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Iovance Biotherapeutics by 59.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 21,740 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 8,090 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Iovance Biotherapeutics by 142.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 9,037 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

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.