On August 20, Iovance Biotherapeutics, Inc. rose 9.07% in regular trading, trading at $8.72/share, with turnover of $104 million. The stock continues to benefit from strong Q2 earnings momentum and a fresh analyst price target upgrade.

On the news front, UBS raised its price target on Iovance Biotherapeutics from $4 to $7 while maintaining a Neutral rating. The average analyst price target stands at $9.33 with an overweight consensus rating. The upgrade comes amid sustained buying interest following the company's August 6 Q2 report, which delivered record revenue of approximately $99.3 million, significantly surpassing the $87.8 million consensus estimate. The quarterly loss of $0.11 per share also beat analyst expectations of a $0.14 loss.

Iovance Biotherapeutics is a commercial-stage biotechnology company focused on developing and commercializing autologous tumor infiltrating lymphocyte cell therapies, primarily for the treatment of metastatic melanoma and other solid tumor cancers. Its lead product Amtagvi is approved for adult patients with unresectable or metastatic melanoma.

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