FY2018 EPS Estimates for Iovance Biotherapeutics Inc (IOVA) Boosted by Analyst
Iovance Biotherapeutics Inc (NASDAQ:IOVA) – Jefferies Financial Group boosted their FY2018 earnings estimates for shares of Iovance Biotherapeutics in a research report issued to clients and investors on Tuesday, November 6th. Jefferies Financial Group analyst B. Amin now forecasts that the biotechnology company will post earnings per share of ($1.29) for the year, up from their previous forecast of ($1.35). Jefferies Financial Group also issued estimates for Iovance Biotherapeutics’ Q4 2018 earnings at ($0.29) EPS, FY2019 earnings at ($1.11) EPS, FY2020 earnings at ($1.35) EPS, FY2021 earnings at ($0.50) EPS and FY2022 earnings at $1.31 EPS.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.03).
Iovance Biotherapeutics stock opened at $8.97 on Friday. Iovance Biotherapeutics has a 52 week low of $7.40 and a 52 week high of $19.90. The stock has a market capitalization of $874.67 million, a P/E ratio of -6.36 and a beta of 3.03.
A number of large investors have recently added to or reduced their stakes in IOVA. Trexquant Investment LP lifted its stake in Iovance Biotherapeutics by 144.5% in the third quarter. Trexquant Investment LP now owns 24,732 shares of the biotechnology company’s stock valued at $278,000 after buying an additional 14,618 shares during the last quarter. FIL Ltd acquired a new position in shares of Iovance Biotherapeutics during the third quarter valued at $15,032,000. BlackRock Inc. increased its holdings in shares of Iovance Biotherapeutics by 5.7% during the third quarter. BlackRock Inc. now owns 6,653,978 shares of the biotechnology company’s stock valued at $74,858,000 after purchasing an additional 357,287 shares during the period. ARK Investment Management LLC increased its holdings in shares of Iovance Biotherapeutics by 246.4% during the third quarter. ARK Investment Management LLC now owns 424,820 shares of the biotechnology company’s stock valued at $4,779,000 after purchasing an additional 302,197 shares during the period. Finally, Dupont Capital Management Corp acquired a new position in shares of Iovance Biotherapeutics during the third quarter valued at $314,000. Institutional investors own 87.51% of the company’s stock.
About Iovance Biotherapeutics
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.
Featured Article: Using the New Google Finance Tool
Receive News & Ratings for Iovance Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iovance Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.