TD Cowen raises Iovance Biotherapeutics price target on revenue outlook

TD Cowen has increased its price target for Iovance Biotherapeutics stock (NASDAQ:IOVA) to $16 from $10, maintaining a Buy rating. The current trading price is $13.67, near the stock's 52-week high of $11.16. Over the past year, Iovance's stock has surged 393%, and it has risen 303% year-to-date. The company has raised its 2026 total revenue guidance to $410 million to $420 million, up 57% year-over-year in its second full launch year.

Iovance reported $325 million in revenue last year, with a 35% year-over-year growth rate. Analysts estimate 2027 Amtagvi sales at $490 million, supporting further growth. The new price target represents a 60% increase from the previous $10 target. TD Cowen emphasizes that near-term data for Amtagvi, including non-small cell lung cancer data expected in the fourth quarter, could significantly contribute to the addressable population.

Soft tissue sarcoma and first-line Phase II melanoma data at ESMO may also boost Iovance's prospects. Despite the positive outlook, InvestingPro analysis suggests the stock is currently overvalued. Investors seeking further insights can access Iovance Biotherapeutics' comprehensive Pro Research Report.