Iovance Biotherapeutics (IOVA) Receives a Buy from H.C. Wainwright

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Iovance Biotherapeutics (IOVAResearch Report), with a price target of $32.00. The company’s shares closed last Monday at $23.68.

According to TipRanks.com, Pantginis is a 4-star analyst with an average return of 7.7% and a 44.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Checkpoint Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Iovance Biotherapeutics with a $33.00 average price target, implying a 35.7% upside from current levels. In a report issued on January 13, Chardan Capital also reiterated a Buy rating on the stock with a $33.00 price target.

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Based on Iovance Biotherapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $49.49 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.