H.C. Wainwright analyst Joseph Pantginis has reiterated their bullish stance on IOVA stock, giving a Buy rating on March 1.
Joseph Pantginis has given his Buy rating due to a combination of factors including the recent positive regulatory developments and the potential market impact of Iovance Biotherapeutics’ therapies. The FDA’s lifting of the clinical hold on IOV-LUN-202, a pivotal study for LN-145 in treating advanced non-small cell lung cancer (NSCLC), signals a clear path forward for the trial. This development is significant as patients with advanced NSCLC typically have a poor prognosis and limited treatment options, highlighting the need for new therapies like LN-145. Pantginis also notes that the fatal adverse event which caused the hold was not attributed to the TIL therapy itself, but rather to the lymphodepletion pre-conditioning regimen, which has since been addressed with new safety measures.
Furthermore, the approval of AMTAGVI for advanced melanoma represents a major milestone for Iovance, reinforcing Pantginis’s original thesis on the company’s potential in the cellular therapy space. The drug’s approval, based on strong clinical trial results, and its favorable safety profile, despite the boxed warning, are key factors supporting the positive outlook. Pantginis also emphasizes the potential for commercial success, upcoming international filings, and the therapy’s differentiation in treating additional solid tumors. Additionally, he maintains that Iovance remains an attractive M&A target, with a financial runway extending into 2025, further underpinning the Buy rating.
In another report released on March 1, Truist Financial also assigned a Buy rating to the stock with a $17.43 price target.
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Iovance Biotherapeutics (IOVA) Company Description:
Iovance Biotherapeutics, Inc. operates as a biotechnology company. The firm 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. The company was founded by Robert T. Brooke on September 17, 2007 and is headquartered in San Carlos, CA.
Read More on IOVA:
- Iovance Biotherapeutics Announces FDA has Lifted Clinical Hold on the IOV-LUN-202 Registrational Trial in Non-Small Cell Lung Cancer
- Iovance Biotherapeutics to Present at Upcoming Conferences
- Iovance Biotherapeutics price target raised to $25 from $22 at Wells Fargo
- Iovance Biotherapeutics price target raised to $22 from $18 at Barclays
- Iovance Biotherapeutics reports Q4 EPS (45c), consensus (43c)
