In a report released today, Mark Breidenbach from Oppenheimer assigned a Buy rating to Iovance Biotherapeutics (IOVA), with a price target of $57.00. The company’s shares closed last Thursday at $28.61, close to its 52-week low of $24.67.
According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 16.6% and a 38.5% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Global Blood Therapeutics, and Arvinas Holding Company.
Iovance Biotherapeutics has an analyst consensus of Strong Buy, with a price target consensus of $60.43, representing a 109.3% upside. 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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Iovance Biotherapeutics’ market cap is currently $4.35B and has a P/E ratio of -15.50. The company has a Price to Book ratio of 6.77.
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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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