Wells Fargo Lowers Iovance Biotherapeutics (IOVA) PT to $14 Despite Strong Amtagvi Sales, Q2 Revenue Growth

Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is one of the most promising penny stocks under $5. On August 8, Wells Fargo lowered the firm’s price target on Iovance Biotherapeutics to $14 from $18, while keeping an Overweight rating on the shares. While the stock reacted negatively after-hours to Q2 2025 results, the firm pointed out that the revenue miss was mainly due to IL-2, with Amtagvi meeting consensus.

Iovance Biotherapeutics’ total revenue for Q2 was $60 million, which was a 93% increase year-over-year and a 22% sequential growth. This was driven by the company’s cell therapy, Amtagvi, which generated $54.1 million in sales. Proleukin, another of the company’s products, contributed an additional $5.9 million in product revenue.

Wells Fargo Lowers Iovance Biotherapeutics (IOVA) PT to $14 Despite Strong Amtagvi Sales, Q2 Revenue Growth

A medical staff in white coats monitoring the progress of cancer immunotherapy trials.

The company successfully treated over 100 patients with its Amtagvi therapy for advanced melanoma, a first for the company in a single quarter. Real-world data from authorized treatment centers showed a nearly 49% response rate among patients treated with Amtagvi, with the response rate rising to 61% in patients who had received two or fewer prior lines of therapy.

Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is a commercial-stage biopharmaceutical company that develops and commercializes cell therapies using autologous tumor-infiltrating lymphocytes for the treatment of metastatic melanoma and other solid tumor cancers in the US.

While we acknowledge the potential of IOVA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IOVA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.