Iovance Biotherapeutics Inc (IOVA) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst George Zavoico maintained a Buy rating on Iovance Biotherapeutics Inc (IOVA) on May 17 and set a price target of $24. The company’s shares closed on Friday at $15.03.

Zavoico commented:

“Two abstracts submitted by Iovance Biotherapeutics for presentation at the annual meeting of the Oncology (ASCO) in early June were released on Wednesday, May 15. The first interim results of a Phase II trial of lifileucel (LN-145) in recurrent, metastatic, or persistent cervical cancer show a 44% overall response rate (ORR) and a 89% disease control rate (DCR; which includes patients achieving stable disease) after a median follow-up of only 3.5 months. Updated interim results of a Phase II trial of lifileucel (LN-144; same tumor-infiltrating lymphocytes [TIL] manufacturing process as LN-145, but different indication) in advanced (Stage IIIC/IV) metastatic melanoma shows an unchanged 38% ORR and 76% DCR at a longer follow- up (by 1.4 months).”

According to TipRanks.com, Zavoico is a 3-star analyst with an average return of 3.7% and a 43.9% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Corbus Pharmaceuticals, uniQure NV, and Verastem.

Currently, the analyst consensus on Iovance Biotherapeutics Inc is a Strong Buy with an average price target of $25.67, a 70.8% upside from current levels. In a report issued on May 8, Cowen & Co. also maintained a Buy rating on the stock.

See today’s analyst top recommended stocks >>

Based on Iovance Biotherapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $36.95 million. In comparison, last year the company had a GAAP net loss of $26.52 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts