Gold prices bounce off 3-week lows; demand likely longer term
On Tuesday, H.C. Wainwright analysts reiterated their Buy rating and maintained a $20.00 price target for Iovance Biotherapeutics stock (NASDAQ: NASDAQ:IOVA), representing significant upside from the current price of $1.76. The analysts highlighted the company’s recent data presentations and ongoing clinical trials as key factors in their decision. According to InvestingPro data, analyst targets for IOVA range from $2 to $25, with a consensus recommendation leaning towards Buy.
Iovance Biotherapeutics recently disclosed updated data from its C-144-01 trial and hosted a discussion featuring key opinion leaders. The company also presented a poster detailing its ongoing clinical trial assessing tumor-infiltrating lymphocyte (TIL) therapy in solid tumors, including non-small cell lung cancer (NSCLC).
The open-label Phase 2 study, IOV-COM-202, is evaluating lifileucel in solid tumors, with one cohort assessing the cell therapy in combination with pembrolizumab in checkpoint inhibitor naïve, advanced NSCLC. The combination strategy has shown preliminary efficacy, which H.C. Wainwright analysts believe is crucial for the company’s prospects.
Despite recent negative pressure on Iovance’s stock due to lower-than-expected AMTAGVI revenue and revised financial guidance, the analysts remain optimistic. The company’s $587.7 million market cap reflects recent challenges, with the stock down nearly 80% over the past six months. However, InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 4.18 and more cash than debt on its balance sheet, though it’s currently burning through cash rapidly. Get access to 10+ additional ProTips and comprehensive financial analysis with an InvestingPro subscription.
Iovance is also investigating TIL therapy in head and neck squamous cell carcinoma, cervical cancer, and endometrial cancer. The NSCLC clinical data are anticipated to be a significant upcoming catalyst, with potential data releases expected in the second half of 2025 and a possible approval for lifileucel in NSCLC projected for 2027. The company’s next earnings report is scheduled for August 7, 2025, which investors will closely watch for updates on the clinical pipeline and cash runway.
In other recent news, Iovance Biotherapeutics announced the publication of five-year results from its Phase 2 C-144-01 clinical trial of Amtagvi, a T cell therapy for advanced melanoma. The study, involving 153 patients, demonstrated a 31.4% objective response rate and a 19.7% five-year survival rate, highlighting the therapy’s potential benefits. Despite these promising results, Iovance’s first-quarter 2025 sales of Amtagvi fell short of expectations, leading UBS to downgrade the company’s stock rating from "Buy" to "Neutral" and significantly lower the price target from $17.00 to $2.00. UBS cited challenges such as issues with treatment center implementation and a higher patient dropout rate as factors influencing their decision. Similarly, Truist Securities downgraded Iovance’s stock rating from "Buy" to "Hold," citing market challenges and performance inconsistencies. The firm acknowledged Iovance’s advancements in TIL therapy but expressed concerns about the company’s ability to navigate market conditions effectively. Meanwhile, Citizens JMP maintained a Market Perform rating for Iovance, noting caution due to the company’s recent lowered revenue guidance. These developments reflect the varied analyst perspectives on Iovance’s current market position and future potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.