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Monday, September 28, 2020

Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is Holding Steady

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Iovance Biotherapeutics Inc. (IOVA) shares are trading at higher $35.25 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $47.08.

To add more color to this target, the company’s high over the last year is $41.49 and the low is $17.67. Over the last 52 weeks, IOVA is up 64.41% while the S&P 500 is up 12.41%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, IOVA reported a profit of $0.61 million. Iovance Biotherapeutics Inc. also saw revenues increase to $63.63 million. In addition, IOVA has free cash flow of -$107.54 million as of 06-2020. The company’s EBITDA came in at -$63.33 million which compares well with its peers.

IOVA Return on Equity (ROE) is -59.40%, and its Return on Assets is -53.20%. All told, it is clear that, IOVA needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. IOVA has a short ratio of 10.24 and outstanding shares of 133.16M.

Company Outlook

IOVA has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.0 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.93. Iovance Biotherapeutics Inc. IOVA also noted assets of $817.57 million at the end of the last quarter. Investors should also keep an eye on sector updates as IOVA has historically followed its peers on positive news.

All told, Iovance Biotherapeutics Inc. IOVA has strung together solid data and demonstrated underlying fundamentals. At its current valuation, IOVA represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Iovance Biotherapeutics Inc. IOVA is now commanding a market cap of 5.16B and a float of 101.92M. IOVA is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of IOVA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in IOVA, either long or short, and we have not been compensated for this article.

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