Iovance shares gain nearly 6% as Goldman Sachs resumes coverage with buy rating

Iovance Biotherapeutics shares rose nearly 6% Thursday after Goldman Sachs analyst Andrea Newkirk resumed coverage with a buy rating and a $15 price target. She cited second-quarter Amtagvi sales of $91 million and 150 patients treated.

Newkirk also cited a proprietary survey indicating strong interest and demand for Amtagvi as a second-line melanoma treatment. She said availability-related operational roadblocks were beginning to ease; the FDA approved Amtagvi in early 2024.