Iovance Biotherapeutics (IOVA) Received its Third Buy in a Row

After Piper Sandler and Cowen & Co. gave Iovance Biotherapeutics (NASDAQ: IOVA) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Mark Breidenbach maintained a Buy rating on Iovance Biotherapeutics today and set a price target of $35.00. The company’s shares closed last Monday at $31.46, close to its 52-week high of $34.46.

According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 8.9% and a 42.7% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Allogene Therapeutics, and Kadmon Holdings.

Iovance Biotherapeutics has an analyst consensus of Strong Buy, with a price target consensus of $35.60, implying a 43.5% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $40.00 price target.

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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, which 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.