Stocks of Iovance Biotherapeutics Inc (NASDAQ:IOVA) traded higher last session on Wall Street, up 0.85% to $4.75.
According to the data, Iovance Biotherapeutics Inc (NASDAQ:IOVA) has 13 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $14.00, we find $20.00. Given the previous closing price of $4.71, this indicates a potential upside of 324.63 percent. IOVA stock price is now 8.50% away from the 50-day moving average and -25.76% away from the 200-day moving average. The market capitalization of the company currently stands at $1.22B.
A total of 1 analysts have issued a hold rating and 10 have given it a buy rating. Brokers who have rated the stock have averaged $21.18 as their price target over the next twelve months.
With the price target reduced from $40 to $18, Barclays maintained Overweight rating for Iovance Biotherapeutics Inc (NASDAQ: IOVA).
In other news, MCPEAK MERRILL A, Director bought 10,000 shares of the company’s stock on Sep 18. The stock was bought for $55,600 at an average price of $5.56. Upon completion of the transaction, the Director now directly owns 248,633 shares in the company, valued at $1.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, Director Rothbaum Wayne P. bought 5,000,000 shares of the business’s stock. A total of $26,500,000 was incurred on buying the stock at an average price of $5.30. This leaves the insider owning 23,067,333 shares of the company worth $109.57 million. A total of 19.31% of the company’s stock is owned by insiders.
Wednesday’s opening bell rang with an opening price of $4.7300 for Iovance Biotherapeutics Inc (NASDAQ: IOVA). During the past 12 months, Iovance Biotherapeutics Inc has had a low of $3.21 and a high of $9.36. As of last week, the company has a debt-to-equity ratio of 0.12, a current ratio of 4.21, and a quick ratio of 4.11. The fifty day moving average price for IOVA is $4.3530 and a two-hundred day moving average price translates $6.3822 for the stock.
The latest earnings results from Iovance Biotherapeutics Inc (NASDAQ: IOVA) was released for Sep, 2023. According to the Biotechnology Company, earnings per share came in at -$0.46, missing analysts’ expectations of -$0.45 by -0.01. This compares to -$0.63 EPS in the same period last year. The net profit margin was -61241.44% and return on equity was -81.10% for IOVA. For the current quarter, analysts expect IOVA to generate $2.12M in revenue.
Iovance Biotherapeutics Inc(IOVA) 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 that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer. It also develops LN-145 for the treatment of metastatic non-small cell lung cancer; IOV-4001 for the treatment of melanoma non-small cell lung cancer; IOV-2001; and IOV-3001. Iovance Biotherapeutics, Inc. has collaborations and licensing agreements with H. Lee Moffitt Cancer Center; M.D. Anderson Cancer Center; Ohio State University; Centre hospitalier de l’Université de Montreal; Cellectis S.A.; Novartis Pharma AG; Melanoma Institute Australia; and Beth-Israel Deaconess Medical Center. The company was formerly known as Lion Biotechnologies, Inc. and changed its name to Iovance Biotherapeutics, Inc. in June 2017. Iovance Biotherapeutics, Inc. was incorporated in 2007 and is headquartered in San Carlos, California.
