Iovance Biotherapeutics price target raised to $36 from $32 at H.C. Wainwright » 07:1402/2602/26/20
H.C. Wainwright analyst…
H.C. Wainwright analyst Joseph Pantginis raised the firm's price target on Iovance Biotherapeutics to $36 from $32 and keeps a Buy rating on the shares. The company's primary focus for 2020 remains both delivering pivotal data for melanoma and cervical cancer, and filing both Biologics License Applications by year-end, Pantginis tells investors in a post-earnings research note. The analyst also highlights the potential for a takeout of Iovance, which he says has been an underlying thesis of his for years and resurfaced in unconfirmed press reports again yesterday.
Iovance Biotherapeutics price target raised to $38 from $32 at Wells Fargo » 06:3902/2602/26/20
Wells Fargo analyst Jim…
Wells Fargo analyst Jim Birchenough raised the firm's price target on Iovance Biotherapeutics to $38 from $32 and reiterates an Overweight rating on the shares. The new price target is based on a sum-of-the-parts reflecting increased likelihood of success for the company's tumor infiltrating lymphocytes pipeline for melanoma and cervical cancer, Birchenough tells investors in a research note. The analyst sees "multiple opportunities for sustainable value creation" following Iovance's Q4 results. Birchenough says that with earlier payer engagement, broader site experience and improving reimbursement landscape for early CAR-T launches, he sees potential for more rapid adoption, in larger solid tumor indications and with greater commercial opportunity.
Iovance Biotherapeutics price target raised to $40 from $30 at Piper Sandler » 21:0202/2502/25/20
Piper Sandler analyst…
Piper Sandler analyst Joseph Catanzaro raised his price target on Iovance Biotherapeutics to $40 and kept his Outperform rating after its Q4 earnings beat and with the company announcing that its timelines for melanoma and cervical registrational cohort filings remaining unchanged by year-end FY20. The analyst also maintains his view of Iovance as the leader in solid tumor targeting cell therapy and contends that some of its rumored potential acquirers do as well.
Fly Intel: After Hours Movers » 19:0502/2502/25/20
ACRS, WW, MTDR, BGS, ALRM, NVRO, INFN, EVH, PRTK, ADMS, AKCA, SDC, RVLV, SUPN, PODD, SCCO, TOL, VICR, PEN, UIS, PLNT, SPCE, REAL, ORA, IOVA, EXEL, EVTC, CRM, JAZZ, CZR, AMRN, RRGB, VNDA, DIS
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Aclaris (ACRS) up 8.0%... WW International (WW) up 6.8%... Matador Resources (MTDR) up 6.0%... B&G Foods (BGS) up 5.7%... Alarm.com (ALRM) up 5.3%... Nevro (NVRO) up 3.4%... Infinera (INFN) up 3.4%... Evolent Health (EVH) up 3.1%... Paratek Pharma (PRTK) up 2.8%... Adamas Pharma (ADMS) up 1.9%... Akcea Therapeutics (AKCA) up 1.9%. DOWN AFTER EARNINGS: SmileDirectClub (SDC) down 20.5%... Revolve Group (RVLV) down 18.1%... Supernus Pharma (SUPN) down 15.0%... Insulet (PODD) down 12.1%... Southern Copper (SCCO) down 9.3%... Toll Brothers (TOL) down 9.0%... Vicor Corp (VICR) down 8.7%... Penumbra (PEN) down 6.9%... Unisys (UIS) down 6.1%... Planet Fitness (PLNT) down 5.9%... Virgin Galactic (SPCE) down 5.7%... RealReal (REAL) down 5.1%... Ormat Technologies (ORA) down 3.8%... Iovance Biotherapeutics (IOVA) down 3.1%... Exelixis (EXEL) down 3.1%... Evertec (EVTC) down 3.0%... Salesforce (CRM) down 2.1%... Jazz Pharma (JAZZ) down 1.8%... Caesars (CZR) down 1.6%... Amarin Corp (AMRN) down 1.4%... Red Robin (RRGB) down 1.3%. ALSO LOWER: Vanda Pharma (VNDA) down 7.6% after Phase 3 study of tradipitant did not meet primary endpoint... Disney (DIS) down 1.7% after naming new CEO. Movers as of 18:30ET.
Iovance CEO says 'does not comment on speculation in the media' » 16:5602/2502/25/20
Iovance CEO Maria Fardis…
Iovance CEO Maria Fardis said during the company's Q4 earnings conference call that the company would not answer questions related to any articles circulated in the press. Note that before the close, Bloomberg reported that Iovance has been exploring a sale and has held preliminary talks with potential buyers, causing the stock to close higher by over 27% to $31.46.
Iovance says manufacturing facility on track for production in 2022 » 16:2002/2502/25/20
The company said,…
The company said, "Iovance began construction of a state-of-the-art, 136,000 square foot commercial-scale production facility in Philadelphia for its TIL therapies in June 2019. The new facility is expected to be completed by year-end 2021 to support commercial supply in 2022, with capacity to meet demand for thousands of patients in multiple cancers. Iovance expects to invest approximately $85 million over three years for equipment and construction of the facility."
Iovance Biotherapeutics reports Q4 EPS (50c), consensus (91c) » 16:0902/2502/25/20
At December 31, 2019, the…
At December 31, 2019, the company held $312.5M in cash, cash equivalents, short-term investments and restricted cash compared to $468.5M at December 31, 2018. "During 2019 we made tremendous progress in advancing Iovance TIL and PBL products," said Maria Fardis, MBA, Iovance president and CEO. "We conducted two planned pivotal programs for lifileucel in melanoma and LN-145 in cervical, initiated patient dosing in earlier lines of therapy and received clearance from FDA on a new IND to proceed to dose patients with our PBL product, IOV-2001. In anticipation for commercialization of Iovance TIL, we are building our internal manufacturing capability and expanding our commercial team and infrastructure. With the first potential cell therapy in solid tumors, as well as a broad TIL platform, Iovance is poised to become the leader in development, manufacturing, and commercialization of TIL cell therapy for solid tumors."
Iovance among 'more interesting' cell therapy takeout candidates, says Stifel » 14:4602/2502/25/20
IOVA, TAK, GILD
Stifel analyst Benjamin…
Stifel analyst Benjamin Burnett notes that Iovance (IOVA) is trading up as a result of a Bloomberg notice that said the company is exploring a sale. The analyst does not know if this is true but does think this is one of the few cell therapy companies in his coverage with data that has been de-risked to a large degree by a proof-of-concept study. From that standpoint, Burnett can see how this might be one of the more interesting cell therapy takeout candidates. However, the analyst has also speculated in the past that the cell therapy M&A thesis is tough to get behind just because this type of acquisition is not likely to be a tuck-in to most buyers. Burnett adds that both Takeda (TAK) and Gilead (GILD) have demonstrated with past deals that they are interested in cell therapy. Because of Kymriah, Novartis (NVS) also comes to mind as a potential buyer, he contends. He reiterates a Buy rating on Iovance's shares, with an unchanged $35 price target.
Iovance trading resumes, shares up 19% $29.41 after Bloomberg report 13:2402/2502/25/20
Iovance Biotherapeutics trading resumes 13:2202/2502/25/20