Iovance Biotherapeutics stock rises
On October 12, clinical-stage biotechnology company Iovance Biotherapeutics (IOVA) stock rose 19.66% to $11.93 on the Nasdaq. The spike was due to the company’s press release that announced the price for its public offering of common stock, which is expected to have gross proceeds of $219.3 million.
At the end of October 12, it had a market capitalization of $1.14 billion. It was trading at a price-to-book ratio of 3.98x and a price-to-cash flow ratio of 4.12x.
Iovance Biotherapeutics is currently trading 80.76% higher than its 52-week low of $6.60 and 40.05% lower than its 52-week high of $19.90. Based on its closing price on October 12, it has returned the following:
- 2.93% in the past week
- -10.97% in the past month
- -13.86% in the past quarter
- -19.12% in the past six months
- 62.31% in the 12 months
- 49.13% year-to-date in 2018
Analyst recommendations and target price for Iovance Biotherapeutics
The 12-month consensus analyst recommendation for Iovance Biotherapeutics on October 12 was a “buy.” Its 12-month consensus target price is $30.43, which is 155.07% higher than its last closing price on October 12. The highest target price estimate for the company is $48, and the lowest is $34.
Of the seven analysts covering Iovance Biotherapeutics in October, three have rated the stock a “strong buy,” and four have rated it a “buy.”
At end of the second quarter of 2018, the company had $276.1 million of cash on its balance sheet. With a current ratio of 19.73x and a quick ratio of 20.61x, it seems to be well funded in the short run. The company also has no debt.