Iovance Biotherapeutics (IOVA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tyler Van Buren from TD Cowen maintained a Buy rating on the stock and has a $10.00 price target.
Tyler Van Buren has given his Buy rating due to a combination of factors including Iovance Biotherapeutics’ strong revenue performance and future growth potential. The company reported a Q4 revenue of $74 million, which was slightly above consensus expectations, and achieved a total 2024 revenue of $164 million, aligning with the higher end of their guidance range. Despite a miss in Amtagvi sales, the robust performance of Proleukin sales offset this, indicating a positive trajectory for the company.
Moreover, Iovance Biotherapeutics has reiterated its 2025 sales guidance of $450-475 million, driven by expected growth in Amtagvi utilization and continued Proleukin expansion. The company’s strategic moves, such as a price increase and potential international expansion, further support this optimistic outlook. These elements combined suggest a promising future for Iovance, justifying the Buy rating.
In another report released on February 20, Wells Fargo also maintained a Buy rating on the stock with a $25.00 price target.