In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Iovance Biotherapeutics Inc (NASDAQ: IOVA), with a price target of $22. The company’s shares closed yesterday at $14.60.
Pantginis noted:
“Valuation and impediments to achieving price target. We reiterate our Buy rating and $22 price target. Our target is based on our clinical net present value (NPV) model, which derives its primary value from LN-144 for metastatic melanoma currently. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -13.8% and a 31.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Checkpoint Therapeutics Inc.
Iovance Biotherapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $24.20, implying a 65.8% upside from current levels. In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $22 price target.
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The company has a one-year high of $19.90 and a one-year low of $4.45. Currently, Iovance Biotherapeutics Inc has an average volume of 931.7K.
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Iovance Biotherapeutics, Inc. operates as a biotechnology company, which engagesin 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.
