Iovance Biotherapeutics (NASDAQ:IOVA) Releases Quarterly Earnings Results, Hits Expectations

Iovance Biotherapeutics (NASDAQ:IOVA) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26), Zacks reports. The business had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Iovance Biotherapeutics updated its FY 2025 guidance to EPS.

Iovance Biotherapeutics Trading Down 19.4 %

Shares of NASDAQ:IOVA opened at $4.24 on Friday. Iovance Biotherapeutics has a 1 year low of $3.62 and a 1 year high of $18.24. The business has a fifty day simple moving average of $6.27 and a 200 day simple moving average of $8.62. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -2.85 and a beta of 0.53.

Wall Street Analysts Forecast Growth

IOVA has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday. Piper Sandler reduced their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $20.50.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.