In a report released today, Mara Goldstein from Mizuho Securities initiated coverage with a Buy rating on Iovance Biotherapeutics (IOVA) and a price target of $61.00. The company’s shares closed last Tuesday at $36.63, close to its 52-week high of $38.92.
According to TipRanks.com, Goldstein is a 2-star analyst with an average return of -0.1% and a 35.6% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Corvus Pharmaceuticals, and Autolus Therapeutics.
Iovance Biotherapeutics has an analyst consensus of Strong Buy, with a price target consensus of $41.57.
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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 $63.57 million. In comparison, last year the company had a GAAP net loss of $32.58 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.