JMP Securities analyst Reni Benjamin has reiterated their bullish stance on IOVA stock, giving a Buy rating yesterday.
Reni Benjamin’s rating is based on a combination of factors that highlight Iovance Biotherapeutics’ promising financial and operational outlook. The company has reiterated its revenue guidance for 2025, projecting between $450 million and $475 million in product sales, supported by a robust pipeline and a significant market opportunity in second-line melanoma treatment, which alone could reach over $1.5 billion globally. Additionally, Iovance’s financial position is bolstered by a cash reserve of $422 million, providing a solid foundation for future growth.
Furthermore, Iovance’s recent financial performance has shown resilience, with total revenues slightly surpassing expectations despite some shortfalls in specific product sales. The company’s strategic focus on expanding patient treatment at existing sites rather than adding new ones suggests a concentrated effort to optimize operations. Moreover, the potential of Iovance’s NSCLC treatment, with promising data expected in the latter half of 2025, represents a multi-billion dollar opportunity, reinforcing the company’s growth prospects and justifying the Buy rating.
In another report released yesterday, TD Cowen also initiated coverage with a Buy rating on the stock with a $10.00 price target.