Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, January 3rd. The brokerage presently has a $9.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential downside of 37.50% from the company’s current price.

According to Zacks, “Iovance Biotherapeutics, Inc. is a biopharmaceutical company. It focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. Iovance Biotherapeutics Inc., formerly known as Lion Biotechnologies Inc., is based in SAN CARLOS, United States. “

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Several other brokerages have also commented on IOVA. B. Riley reaffirmed a “buy” rating and set a $18.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, December 13th. Oppenheimer set a $13.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Thursday, December 14th. HC Wainwright set a $16.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Thursday, December 14th. Finally, BidaskClub downgraded shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.15.

Iovance Biotherapeutics (IOVA) opened at $14.40 on Wednesday. Iovance Biotherapeutics has a 52-week low of $4.45 and a 52-week high of $15.10. The stock has a market cap of $1,050.00, a PE ratio of -10.99 and a beta of 4.89.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). research analysts forecast that Iovance Biotherapeutics will post -1.35 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in IOVA. Russell Investments Group Ltd. purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $380,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $1,538,000. Rhumbline Advisers purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $468,000. State of Wisconsin Investment Board purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $287,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $1,796,000. Institutional investors and hedge funds own 76.35% of the company’s stock.

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Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.

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