H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Iovance Biotherapeutics Inc (IOVA) today and set a price target of $32. The company’s shares opened today at $25, close to its 52-week high of $25.50.
Pantginis observed:
“Our thesis on TILs stands strong. In accordance with our thesis, showing efficacy in solid tumors beyond melanoma continues to represent a game changer for Iovance and, on a broader look, we continue to view this company as a viable takeout candidate for Big Pharma. We would like to reiterate that, apart from academic-based TILs therapies such as NCI and MD Anderson, Iovance is the only biotech that is developing a commercial TIL product to treat a variety of tumors and patients using the predefined cryopreserved 22-day manufacturing strategy.”
According to TipRanks.com, Pantginis is a 1-star analyst with an average return of -1.4% and a 35.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Armata Pharmaceuticals Inc.
Iovance Biotherapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $30.63, representing a 22.5% upside. In a report issued on June 28, Piper Jaffray also maintained a Buy rating on the stock with a $30 price target.
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The company has a one-year high of $25.50 and a one-year low of $7.26. Currently, Iovance Biotherapeutics Inc has an average volume of 2.06M.
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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.
