Truist lowered the firm’s price target on Iovance Biotherapeutics (IOVA) to $15 from $25 and keeps a Buy rating on the shares after its Q4 results. The launch of Amtagvi is going well, but the guidance given early on was a tall order and has given bears ammunition, the analyst tells investors in a research note. With two quarters of slower growth – Q4 and expected Q1 – the ramp up needed for the rest of the year is almost unreasonably aggressive, Truist added.
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