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 $16.95.
Amusa noted:
“We remind, Iovance has a 2nd trial in NSCLC (NCT03419559) in collaboration with MedImmune/AstraZeneca (unrated). This phase II trial evaluates Iovance’s Gen 2 cryopreserved TIL product LN-145 in combination with anti-PD-L1 inhibitor durvalumab in patients with no prior anti-PD-1/PD-L1 therapy. We also note Iovance will Please refer to important disclosure information and Regulation Analyst Certification found on pages 4 – 8 of this report.be initiating an additional study of LN-145 TILs in solid tumors including NSCLC (IOV-COM-202, NCT03645928) later this year. While this trial includes combination treatment with anti-PD-1 pembrolizumab in anti-PD-1/PD-L1 naive melanoma and head & neck cancer, the NSCLC cohort, with 1-3 lines of prior treatment will receive LN-145 as a monotherapy.”
According to TipRanks.com, Amusa is a top 100 analyst with an average return of 27.7% and a 56.7% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Applied Genetic Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Iovance Biotherapeutics Inc with a $24.20 average price target, which is a 42.8% upside from current levels. In a report issued on August 27, B.Riley FBR also reiterated a Buy rating on the stock with a $24 price target.
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The company has a one-year high of $19.90 and a one-year low of $6.50. Currently, Iovance Biotherapeutics Inc has an average volume of 1.07M.
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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.
