Iovance Biotherapeutics Inc Receives a Buy from H.C. Wainwright

By Ryan Adsit

In a report released today, Joseph Pantginis from H.C. Wainwright assigned a Buy rating to Iovance Biotherapeutics Inc (NASDAQ: IOVA), with a price target of $16. The company’s shares closed yesterday at $7.25.

According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -17.9% and a 31.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Applied Genetic Technologies, and ImmunoCellular Therapeutics.

Currently, the analyst consensus on Iovance Biotherapeutics Inc is Strong Buy and the average price target is $15, representing a 106.9% upside.

In a report issued on September 4, Jefferies also reiterated a Buy rating on the stock with a $11 price target.

Based on Iovance Biotherapeutics Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $0 and GAAP net loss of $23.38 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $11.56 million.

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Iovance Biotherapeutics, Inc. operates as a biotechnology company which focuses on the development and commercialization of novel cancer immunotherapy. It products designed to harness the power of a patient’s own immune system to eradicate cancer cells.