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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.