Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the top penny stocks to buy in investors’ stock portfolio.
On June 1, research firm Citizens reiterated a Market Outperform rating on Iovanace Biotherapeutics (NASDAQ:IOVA) with a $5 price target
Photo from Iovance Biotherapeutics website The research firm remains confident about the company’s outlook, impressed by the real-world presentation at ASCO that broadened the commercial and clinical case of candidate drug Amtagvi. The presentations reiterated the drug’s efficacy, safety, and workflow data in the treatment of adults with advanced, unresectable, or metastatic melanoma. According to Citizens, the presentations affirmed the need for patients to be referred to an adoptive T-cell therapy center before the disease burden becomes severe.
Iovance has already started advancing in non-small cell lung cancer, sarcoma, and first-line melanoma. Chief Executive Officer Frederick Vogt has already reiterated plans to accelerate the adoption and commercial expansion of Amtagvi amid record-high market demand. The company is also positioned for long-term revenue growth, as it has advanced multiple ongoing and new clinical trials.