Barclays lowered the firm’s price target on Iovance Biotherapeutics (IOVA) to $5 from $22 and keeps an Overweight rating on the shares as part of a Q1 earnings preview. The firm says its survey points to continued growth in Amtagvi infusions in Q1 and Q2. It sees Q1 consensus estimates as achievable assuming IL2 growth. It de-risked Iovance’s model “out of an abundance of caution in the current macro backdrop.”
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