B. Riley Analysts Give Iovance Biotherapeutics (IOVA) a $24.00 Price Target
Iovance Biotherapeutics (NASDAQ:IOVA) has been given a $24.00 price objective by B. Riley in a report issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. B. Riley’s target price points to a potential upside of 53.75% from the company’s previous close.
A number of other brokerages also recently weighed in on IOVA. Chardan Capital set a $30.00 price target on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a report on Monday. Robert W. Baird increased their price objective on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday. BidaskClub raised shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. ValuEngine raised shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Finally, Piper Jaffray Companies began coverage on shares of Iovance Biotherapeutics in a research note on Monday, April 29th. They issued an “overweight” rating and a $20.00 price objective for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Iovance Biotherapeutics presently has an average rating of “Buy” and an average target price of $24.38.
Shares of Iovance Biotherapeutics stock traded up $0.58 on Friday, reaching $15.61. 3,381,215 shares of the stock were exchanged, compared to its average volume of 1,245,557. Iovance Biotherapeutics has a one year low of $7.26 and a one year high of $18.25. The company has a current ratio of 20.09, a quick ratio of 20.09 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.86 billion, a PE ratio of -12.29 and a beta of 1.97.
Large investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its stake in Iovance Biotherapeutics by 58.6% in the 4th quarter. Advisor Group Inc. now owns 8,118 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 3,000 shares during the last quarter. Kalos Management Inc. bought a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $93,000. Virtu Financial LLC bought a new position in Iovance Biotherapeutics in the 1st quarter valued at approximately $99,000. Great West Life Assurance Co. Can raised its stake in shares of Iovance Biotherapeutics by 67.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 14,538 shares of the biotechnology company’s stock valued at $124,000 after acquiring an additional 5,853 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new position in shares of Iovance Biotherapeutics during the first quarter valued at $126,000. 96.45% of the stock is owned by institutional investors and hedge funds.
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 lifileucel, 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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