Iovance Biotherapeutics price target lowered to $25 from $27 at Stifel

Stifel lowered the firm’s price target on Iovance Biotherapeutics to $25 from $27 and keeps a Buy rating on the shares after having hosted a call with a pair of doctors to discuss lifileucel. Both physicians felt lifileucel “deserves to be approved” and estimated that 20%-30% of patients in their practice would be a TIL candidate, said the analyst, who added that “more critically” both skeptical of Iovance’s plans to onboard 40 treatment centers within about 90 days. The firm is lowering its adoption curve “slightly” following the call, driving its lower price target.