TD Cowen increased its price target on Iovance Biotherapeutics to $10 from $7, citing accelerating sales of its lead cancer therapy Amtagvi. The stock last traded at $8.06, above TD Cowen’s new target and the InvestingPro fair value estimate of $8.68.
UBS also raised its price target on Iovance to $7 from $4, reflecting the improved outlook. The company’s shares have surged 219% over the past year and 195% year-to-date, driven by strong commercial performance.
TD Cowen projects Amtagvi sales will grow 64% year-over-year in the third quarter to $95 million and 54% in the fourth quarter to $99 million. The firm raised its 2026 total revenue estimate to $385 million, exceeding Iovance’s prior guidance range of $350 million to $370 million. Last twelve months revenue reached $325 million.
Second-quarter 2026 results showed total revenue of $99.31 million, surpassing the $87.12 million forecast. Amtagvi sales totaled $91 million, exceeding the $80 million consensus estimate, while Proleukin revenue was $9 million, slightly above the expected $8 million. Adjusted loss per share narrowed to $0.11 from a projected $0.13 loss.
Six analysts have revised earnings estimates upward for the upcoming period, underscoring growing confidence in Iovance’s commercial trajectory.
