Jefferies Group Raises Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $31.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price raised by research analysts at Jefferies Group to $31.00 in a report issued on Friday, February 9th. The firm currently has a “buy” rating on the biotechnology company’s stock. Jefferies Group’s price objective suggests a potential upside of 72.70% from the stock’s current price.

IOVA has been the topic of a number of other reports. Oppenheimer set a $13.00 price objective on Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 31st. HC Wainwright set a $22.00 price objective on Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Wednesday, January 3rd. B. Riley restated a “buy” rating and set a $18.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, January 25th. Finally, BidaskClub lowered Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Iovance Biotherapeutics has an average rating of “Buy” and a consensus price target of $18.75.

Shares of Iovance Biotherapeutics (NASDAQ:IOVA) opened at $17.95 on Friday. Iovance Biotherapeutics has a 12-month low of $4.45 and a 12-month high of $18.30. The firm has a market capitalization of $1,525.72, a PE ratio of -13.81 and a beta of 5.89.

Several hedge funds have recently added to or reduced their stakes in the company. Orbimed Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 89.9% in the 3rd quarter. Orbimed Advisors LLC now owns 6,425,626 shares of the biotechnology company’s stock valued at $49,799,000 after purchasing an additional 3,042,726 shares during the period. BlackRock Inc. grew its stake in shares of Iovance Biotherapeutics by 9.0% in the 4th quarter. BlackRock Inc. now owns 4,864,841 shares of the biotechnology company’s stock valued at $38,918,000 after purchasing an additional 401,743 shares during the period. Perceptive Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 1.1% in the 4th quarter. Perceptive Advisors LLC now owns 4,776,114 shares of the biotechnology company’s stock valued at $38,208,000 after purchasing an additional 50,000 shares during the period. FMR LLC bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at approximately $20,833,000. Finally, Victory Capital Management Inc. grew its stake in shares of Iovance Biotherapeutics by 2.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,638,323 shares of the biotechnology company’s stock valued at $20,447,000 after purchasing an additional 51,450 shares during the period. Institutional investors own 65.08% of the company’s stock.

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About Iovance Biotherapeutics

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.

Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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