Iovance Biotherapeutics Inc Gets a Buy Rating from B.Riley FBR

By Jason Carr

B.Riley FBR analyst Madhu Kumar reiterated a Buy rating on Iovance Biotherapeutics Inc (NASDAQ: IOVA) today and set a price target of $18. The company’s shares closed on Friday at $8.05, close to its 52-week high of $8.60.

Kumar observed:

“Last Friday, and over the weekend, at the Society for the Immunotherapy of Cancer (SITC) conference in Washington, D.C., Iovance Biotherapeutics (IOVA, Buy, $18.00) presented data on the company’s tumor-infiltrating lymphocyte (TIL) technology, with a significant focus on the Generation 2 (Gen 2) manufacturing method, which utilizes cryopreservation and has a substantially lower processing time (22 days), compared to the Generation 1 (Gen 1) manufacturing method, which does not cryopreserve (with a 38-day processing time). We believe that early results in advanced melanoma demonstrate comparable to superior efficacy for Gen 2 TILs, compared to Gen 1 TILs with similar safety—to us, supporting the transition (potentially 44% if a fourth patient’s response is confirmed) in immune checkpoint-refractory melanoma, where existing treatment options have an ORR of <10%, we believe Gen 2 TILs of Iovance's pipeline to Gen 2 manufacturing."

According to, Kumar is a 5-star analyst with an average return of 34.2% and a 65.0% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Achillion Pharmaceuticals.

Currently, the analyst consensus on Iovance Biotherapeutics Inc is Strong Buy and the average price target is $14.50, representing an 80.1% upside.

In a report issued on November 1, H.C. Wainwright also reiterated a Buy rating on the stock with a $16 price target.

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Iovance Biotherapeutics, Inc. operates as a biotechnology company which focuses on the development and commercialization of novel cancer immunotherapy. It products designed to harness the power of a patient’s own immune system to eradicate cancer cells.