Iovance Biotherapeutics, Inc. (IOVA) saw its stock price plummet by 5.17% during Tuesday's trading session, following a mixed Q4 earnings report and an update on the Amtagvi launch.
Chardan Capital Markets, a research firm, lowered its price target for IOVA to $30 from $34, citing the company's Q4 results and Amtagvi launch update. However, Chardan maintained a Buy rating on the stock, indicating that they still see potential upside.
According to Chardan's analysis, while the Amtagvi launch hit its total revenue target, it relied heavily on contributions from Proleukin, another drug in IOVA's portfolio. The firm also noted that IOVA provided updates on its pipeline progress and upcoming catalysts during the Q4 report.
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