Why Iovance Biotherapeutics Stock Triumphed on Thursday

Iovance Biotherapeutics (NASDAQ: IOVA) is going to finish the week strong on the stock market if its Thursday performance is any indication. Investors boosted the company's share price by almost 8%, following the initiation of coverage by an analyst who's bullish on its future. With that rise, Iovance easily eclipsed the S&P 500 index's 0.2% increase.The analyst launching his Iovance coverage was UBS' (NYSE: UBS) David Dai. He tagged the commercial-stage biotech with a buy recommendation at a price target of $17 per share. That suggests potential upside of nearly 61% on the stock's current level. According to reports, Dai's optimism is based largely on Iovance's latest commercialized product, advanced melanoma treatment Amtagvi. In his view, the drug has solid potential for use combating second-line and beyond melanoma.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool