H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Iovance Biotherapeutics (IOVA) today and set a price target of $50.00. The company’s shares closed last Thursday at $28.61, close to its 52-week low of $24.67.
According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 33.9% and a 50.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Catabasis Pharmaceuticals.
Iovance Biotherapeutics has an analyst consensus of Strong Buy, with a price target consensus of $60.43, which is a 109.3% upside from current levels. In a report issued on May 3, Truist Financial also initiated coverage with a Buy rating on the stock with a $50.00 price target.
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Based on Iovance Biotherapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $68.4 million. In comparison, last year the company had a GAAP net loss of $63.57 million.
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Iovance Biotherapeutics, Inc. operates as a biotechnology company. The firm engages in the development and commercialization of novel cancer immunotherapy products. Its lead product candidate, LN-144 for metastatic melanoma, is an autologous adoptive cell therapy utilizing tumor-infiltrating lymphocytes, or TIL, which are T cells derived from patients’ tumors. The company was founded by Robert T. Brooke on September 17, 2007 and is headquartered in San Carlos, CA.
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