In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Iovance Biotherapeutics Inc (IOVA), with a price target of $25. The company’s shares closed yesterday at $9.66.
Breidenbach noted:
“Thursday, we sat down with management to discuss recent clinical and regulatory progress of Iovance’s tumor infiltrating lymphocyte (TIL) therapies. We expect enrollment of melanoma patients into the pivotal Cohort 4 of lifileucel’s ongoing Phase 2 trial to begin soon, with IRB approval secured at the first clinical site. The registrational cohort is designed to enroll ~75 patients, will include an interim analysis, and will utilize overall response rate (ORR) as its primary endpoint. In line with our estimates, management anticipates completing enrollment in early 2020, potentially allowing BLA filing in 2H20. Later this year, we expect updated data from >60 patients treated in Cohort 2, as well as updated data from LN-145 in cervical cancer. $25 PT.”
According to TipRanks.com, Breidenbach ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.2% and a 36.9% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences Inc, Global Blood Therapeutics, and Sorrento Therapeutics.
Iovance Biotherapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $26, implying a 169.2% upside from current levels. In a report issued on February 6, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $29 price target.
See today’s analyst top recommended stocks >>
Based on Iovance Biotherapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $33.83 million. In comparison, last year the company had a GAAP net loss of $25.85 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 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.
