H.C. Wainwright analyst Joseph Pantginis has reiterated their bullish stance on IOVA stock, giving a Buy rating on October 31.
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Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Iovance Biotherapeutics’ promising developments in their lifileucel therapy for nonsquamous non-small cell lung cancer (NSCLC). The interim data from the Phase 2 IOV-LUN-202 trial showed a notable objective response rate of approximately 26%, with significant durability in patients who have limited treatment options. This data is seen as a critical step forward for the company, potentially moving the stock out of its current undervalued position.
Furthermore, the potential approval of lifileucel in the second half of 2027, with peak sales estimated to exceed $1 billion, adds to the positive outlook. The therapy’s ability to reduce tumors irrespective of PD-L1 status and its consistent safety profile bolster confidence in its future market adoption. Pantginis views these developments as key catalysts for Iovance, providing validation for their tumor-infiltrating lymphocyte (TIL) strategy and positioning the company for growth, thereby justifying the Buy rating.
In another report released on October 31, Barclays also maintained a Buy rating on the stock with a $4.00 price target.