Wells Fargo lowered the firm’s price target on Iovance Biotherapeutics (IOVA) to $14 from $18 and keeps an Overweight rating on the shares. While the stock reacted negatively after-hours to Q2 results, the firm notes the revenue miss was mainly due to IL-2, with AMTAGVI meeting consensus. Wells sees clear path to delivering 2025 guidance with modest IL-2 growth and AMTAGVI trajectory in Q3 and Q4.
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