Chardan Cuts Iovance (IOVA) Price Target, Keeps Buy Rating

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the 10 Best US Stocks Under $5 to Buy. On May 7, Chardan reduced its price target on Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) from $16 to $14 while maintaining a Buy rating on the stock.

This update comes after the company’s first-quarter 2026 results. Chardan’s analyst told investors in a research note that the firm is adjusting its model to reflect the company’s updated launch guidance for Amtagvi.

Chardan Cuts Iovance (IOVA) Price Target, Keeps Buy Rating

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) reported total product revenue of approximately $71 million in the first quarter of 2026, marking an increase of about 45% compared with the same quarter last year. This growth was supported by significant performance improvements. US Amtagvi revenue was about $60 million, while global Proleukin revenue came in at around $11 million.

The company also shared strong revenue expectations for 2026. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) expects total product revenue for the second quarter of 2026 to range between $86 million and $88 million. For the full year 2026, the company projects revenue between $350 million and $370 million.

Additionally, the company expects US Amtagvi revenue for the second quarter of 2026 to be between $79 million and $81 million. This would represent an increase of about 23% compared with the fourth quarter of 2025.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a commercial biotechnology company focused on developing tumor-infiltrating lymphocyte (TIL) therapies for patients with cancer.

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