Piper Sandler lowered the firm’s price target on Iovance Biotherapeutics (IOVA) to $6 from $7.50 and keeps a Neutral rating on the shares. The firm notes the company reported Q4 earnings, with total revenues of $73.7M, ahead of estimates. Altogether, guidance here looks challenging in the absence of a significant launch acceleration. This leaves Piper comfortable with its below guidance FY25 estimate of $403M and remains on the sidelines.
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