Iovance Biotherapeutics’ (IOVA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note released on Monday morning, AnalystRatings.com reports. They currently have a $26.00 target price on the biotechnology company’s stock.

“Valuation and impediments to achieving price target. We reiterate our Buy rating and price target of $26. Our target is based on our clinical net present value (NPV) model, which derives its primary value from LN-144 for metastatic melanoma currently. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”,” the firm’s analyst wrote.

A number of other analysts have also commented on the stock. Oppenheimer set a $25.00 price target on shares of Iovance Biotherapeutics and gave the stock a buy rating in a research note on Friday, January 11th. B. Riley started coverage on shares of Iovance Biotherapeutics in a research note on Monday, December 31st. They issued a buy rating and a $24.00 price target for the company. Robert W. Baird started coverage on shares of Iovance Biotherapeutics in a research note on Wednesday, February 6th. They issued an outperform rating and a $29.00 price target for the company. ValuEngine lowered shares of Iovance Biotherapeutics from a strong-buy rating to a buy rating in a research note on Friday, December 7th. Finally, BidaskClub upgraded shares of Iovance Biotherapeutics from a strong sell rating to a sell rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Iovance Biotherapeutics currently has a consensus rating of Buy and a consensus price target of $22.86.

Shares of IOVA stock opened at $9.78 on Monday. Iovance Biotherapeutics has a 52 week low of $7.26 and a 52 week high of $18.25. The company has a market capitalization of $1.17 billion, a PE ratio of -7.70 and a beta of 1.91.

A number of hedge funds and other institutional investors have recently made changes to their positions in IOVA. Perceptive Advisors LLC grew its position in Iovance Biotherapeutics by 67.9% during the fourth quarter. Perceptive Advisors LLC now owns 12,241,111 shares of the biotechnology company’s stock valued at $108,333,000 after buying an additional 4,950,912 shares during the period. BlackRock Inc. lifted its holdings in Iovance Biotherapeutics by 32.0% during the fourth quarter. BlackRock Inc. now owns 8,780,191 shares of the biotechnology company’s stock valued at $77,706,000 after purchasing an additional 2,126,213 shares in the last quarter. Great Point Partners LLC lifted its holdings in Iovance Biotherapeutics by 59.2% during the fourth quarter. Great Point Partners LLC now owns 5,567,348 shares of the biotechnology company’s stock valued at $49,271,000 after purchasing an additional 2,071,008 shares in the last quarter. RA Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 142.6% during the fourth quarter. RA Capital Management LLC now owns 2,720,452 shares of the biotechnology company’s stock valued at $24,076,000 after purchasing an additional 1,599,299 shares in the last quarter. Finally, venBio Select Advisor LLC lifted its holdings in Iovance Biotherapeutics by 18.5% during the fourth quarter. venBio Select Advisor LLC now owns 10,261,039 shares of the biotechnology company’s stock valued at $90,810,000 after purchasing an additional 1,598,319 shares in the last quarter. Institutional investors own 95.92% of the company’s stock.

Iovance Biotherapeutics Company Profile

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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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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