In a report released today, Gbola Amusa from Chardan Capital reiterated a Buy rating on Iovance Biotherapeutics Inc (NASDAQ: IOVA), with a price target of $30. The company’s shares closed yesterday at $14.60.
Amusa wrote:
“We reiterate our view on Iovance as a highly-differentiated company within the rapidly growing oncology-focused cell therapy sector. Recall, Iovance is the only clinical-stage company advancing tumor infiltrating lymphocyte (TIL) technology. Positive clinical data for LN-144, coupled with the company’s robust and streamlined 22-day manufacturing process, to us leave the company poised for vast upside potential if Please refer to important disclosure information and Regulation Analyst Certification found on pages 4 – 8 of this report.2018-2019 clinical catalysts play out. We estimate refractory metastatic melanoma alone to be a $1.6-$2.7 bn US market opportunity for LN-144, given >9,000 deaths annually.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 25.0% and a 54.4% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Applied Genetic Technologies.
Currently, the analyst consensus on Iovance Biotherapeutics Inc is a Strong Buy with an average price target of $24.20, which is 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.
