| Over a week ago | ||||
Bullish option flow… Bullish option flow detected in Iovance Biotherapeutics with 4,730 calls trading, 1.1x expected, and implied vol increasing over 1 point to 146.32%. Apr-20 30 calls and Apr-20 40 calls are the most active options, with total volume in those strikes near 3,500 contracts. The Put/Call Ratio is 0.04. Earnings are expected on May 7th. | ||||
Bullish option flow… Bullish option flow detected in Iovance Biotherapeutics with 7,069 calls trading, 1.3x expected, and implied vol increasing over 18 points to 155.76%. Apr-20 40 calls and Jun-20 30 calls are the most active options, with total volume in those strikes near 4,400 contracts. The Put/Call Ratio is 0.03. Earnings are expected on May 7th. | ||||
Shares of Iovance… Shares of Iovance Biotherapeutics moved higher after Jefferies analyst Biren Amin noted that the firm's conference call with management scheduled for March 25 was cancelled by the company. Bloomberg on February 25 reported that Iovance is exploring a sale and has held preliminary talks with potential buyers. Iovance is working with a financial adviser after receiving takeover interest, a source told Bloomberg. Investors seem to be speculating that Iovance's cancelled call may portend to a takeover. The stock in afternoon trading is up 21%, or $5.03, to $28.84. | ||||
Jefferies analyst Biren… Jefferies analyst Biren Amin noted that the firm's conference call scheduled for March 25 with Iovance Biotherapeutics was cancelled by the company. Following notice of the conference cancellation, Iovance shares are up $5.97, or 25%, to $29.77. | ||||
Liberum analyst Graham… Liberum analyst Graham Doyle upgraded Clinigen Group (CLIGF) to Buy from Hold with a 780 GBp price target. The shares do not attribute any value to partner Iovance's (IOVA) cancer therapy trials, which also use Clinigen's Proleukin, Doyle tells investors in a research note. | ||||
| Over a month ago | ||||
Barclays analyst Peter… Barclays analyst Peter Lawson initiated coverage of 13 companies in the U.S. small and mid cap Biotechnology sector with a Positive view. His coverage includes nine Overweights, two Equal Weights, and two Underweights. Small and mid cap biotech stocks should outperform on positive pivotal data, commercialization of novel therapies, and early clinical data from potential disruptive therapies, Lawson tells investors in a research note. He believes the four stocks with the most potential upside, based on probability-adjusted outcomes of upcoming catalysts, are Exelixis (EXEL), Arcus Biosciences (RCUS), Nektar Therapeutics (NKTR) and Epizyme (EPZM). Lawson also recommends investors focus on differentiated therapies from Iovance (IOVA) and Fate Therapeutics (FATE). He also believes Deciphera's (DCPH) first commercial product positions the company well in gastrointestinal stromal tumors. Lawson is awaiting further data to be more constructive on Equal Weight-rated CytomX Therapeutics (CTMX) and Underweight-rated MacroGenics (MGNX) and Xencor (XNCR). | ||||
Barclays analyst Peter… Barclays analyst Peter Lawson initiated coverage of Iovance Biotherapeutics with an Overweight rating and $45 price target. | ||||
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. | ||||
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. | ||||
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. | ||||