Oppenheimer Thinks Iovance Biotherapeutics’ Stock is Going to Recover

Oppenheimer analyst Mark Breidenbach assigned a Buy rating to Iovance Biotherapeutics (IOVA) today and set a price target of $38.00. The company’s shares closed last Friday at $17.92, close to its 52-week low of $15.88.

According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 14.7% and a 39.7% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Global Blood Therapeutics, and Arvinas Holding Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Iovance Biotherapeutics with a $38.20 average price target, an 117.7% upside from current levels. In a report issued on May 27, Robert W. Baird also reiterated a Buy rating on the stock with a $35.00 price target.

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Iovance Biotherapeutics’ market cap is currently $2.74B and has a P/E ratio of -9.70. The company has a Price to Book ratio of 4.23.

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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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