JMP upgrades Iovance to Outperform with 149% potential upside 05:55 IOVA JMP Securities analyst Reni Benjamin upgraded Iovance Biotherapeutics to Outperform from Market Perform with a $32 price target. The analyst downgraded the shares in May based on the delayed filing of the lifileucel, lack of clarity regarding potency assays, and the abrupt departure of the CEO.
Since then, Iovance presented data showcasing updated results of lifileucel in advanced melanoma as well as initial data on a combination therapy of lifileucel with pembrolizumab. In addition, the interim CEO "has convinced us that one of the new assays to be submitted to the agency should clear the path for a successful" application filing in the first half of 2022, Benjamin tells investors in a research note. The analyst believes Iovance shares "represent a unique investment opportunity" with 36% potential downside and 149% potential upside.
Iovance Is The Gummy Of The Day! I'll be trying to get in.