Chardan Capital Research Analysts Lower Earnings Estimates for Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Iovance Biotherapeutics, Inc. (NASDAQ:IOVAGet Rating) – Analysts at Chardan Capital cut their FY2023 earnings per share (EPS) estimates for Iovance Biotherapeutics in a research note issued on Monday, November 21st. Chardan Capital analyst Y. Livshits now forecasts that the biotechnology company will earn ($2.27) per share for the year, down from their previous forecast of ($2.19). Chardan Capital currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for Iovance Biotherapeutics’ current full-year earnings is ($2.50) per share.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $14.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, August 18th. Guggenheim assumed coverage on Iovance Biotherapeutics in a research note on Monday, October 31st. They issued a “neutral” rating on the stock. Truist Financial dropped their price objective on Iovance Biotherapeutics to $18.00 in a research note on Tuesday, August 23rd. Piper Sandler dropped their price objective on Iovance Biotherapeutics from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Sunday. Finally, StockNews.com assumed coverage on Iovance Biotherapeutics in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average target price of $22.40.

Iovance Biotherapeutics Stock Down 1.0 %

IOVA stock opened at $6.22 on Thursday. The business has a 50 day moving average of $9.04 and a 200-day moving average of $10.53. Iovance Biotherapeutics has a 12-month low of $5.42 and a 12-month high of $20.60.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Iovance Biotherapeutics by 6.7% during the third quarter. Vanguard Group Inc. now owns 14,253,754 shares of the biotechnology company’s stock worth $136,551,000 after acquiring an additional 890,727 shares in the last quarter. State Street Corp increased its holdings in shares of Iovance Biotherapeutics by 71.9% in the second quarter. State Street Corp now owns 11,770,751 shares of the biotechnology company’s stock worth $129,949,000 after purchasing an additional 4,925,025 shares during the period. Wellington Management Group LLP increased its holdings in shares of Iovance Biotherapeutics by 17.8% in the first quarter. Wellington Management Group LLP now owns 11,288,726 shares of the biotechnology company’s stock worth $187,957,000 after purchasing an additional 1,704,644 shares during the period. BlackRock Inc. increased its holdings in shares of Iovance Biotherapeutics by 0.3% in the first quarter. BlackRock Inc. now owns 7,428,992 shares of the biotechnology company’s stock worth $123,692,000 after purchasing an additional 20,487 shares during the period. Finally, Farallon Capital Management LLC increased its holdings in shares of Iovance Biotherapeutics by 1.9% in the first quarter. Farallon Capital Management LLC now owns 6,175,357 shares of the biotechnology company’s stock worth $102,820,000 after purchasing an additional 113,384 shares during the period.

Iovance Biotherapeutics Company Profile

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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. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

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Earnings History and Estimates for Iovance Biotherapeutics (NASDAQ:IOVA)

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