Goldman Sachs Reaffirms “Buy” Rating on Iovance (IOVA) for Positive Amtagvi Data

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the 10 best healthcare penny stocks to buy according to analysts. Goldman Sachs reiterated its “Buy” rating on Iovance’s stock on June 3. The firm also maintained its $34.00 price target for Iovance shares.

Goldman Sachs Reaffirms “Buy” Rating on Iovance (IOVA) for Positive Amtagvi Data

A close up of a lab technician in a protective suit, working with cells in a petri dish to develop innovative therapeutics for immune-related diseases.

Goldman Sachs based its reaffirmation on new data that Iovance presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting. The ASCO data focused on Amtagvi, a tumor-infiltrating lymphocyte (TIL) therapy. The FDA approved the treatment in February 2024 for adult patients with unresectable or metastatic melanoma. The data supported the therapy’s safety profile, which, according to Goldman Sachs, reinforces Amtagvi’s potential as a significant treatment option.

Goldman Sachs’s analysts noted that the five-year follow-up data are unprecedented for any therapy in this heavily pretreated advanced melanoma population. To them, the data highlights the durability of Amtagvi’s responses. The firm emphasized Amtagvi’s successful US launch, with consistent patient demand, enhanced operations at Authorized Treatment Centers (ATCs), and improved out-of-spec rates (manufacturing quality metrics). It also highlighted the drug’s first full calendar year of sales in 2025 as a key driver.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a commercial-stage biopharmaceutical company. It develops and markets cell therapies that harness a patient’s own immune cells to treat solid tumors. Its lead product is Amtagvi, approved for advanced melanoma, and it also markets Proleukin. Iovance’s pipeline includes candidates for cervical cancer, non-small cell lung cancer, and hematologic malignancies.

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