Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is one of them 10 stocks to watch right now.
Iovance hit a new 52-week high on Friday, extending a three-day streak, as investors dumped shares after the investment firm doubled its price target for its stock.
In one day trading, Iovance Biotherapeutics Inc. (NASDAQ: IOVA ) hit a high of $5.34 before paring gains to end the session up just 12.01 percent at $5.13.
Image from Iovance Biotherapeutics website
In a market report, UBS raised its price target for the biopharmaceutical company from $2 to $2, though remained “neutral” on the stock.
On the other hand, Iovance Biotherapeutics Inc. (NASDAQ: IOVA ) maintained an outperform rating from Wells Fargo, with the investment firm reaffirming a $14 price target and a “buy” recommendation.
On Wednesday, March 11th, investors will see Iovance Biotherapeutics Inc. (NASDAQ:IOVA) Get a closer look at business updates from Barclays’ 28th Annual Global Healthcare Conference.
In recent news, the biopharmaceutical company’s net loss in 2024 rose 5 percent to $390.98 million from $372 million last year. Total revenue rose 60.6 percent to $263.5 million from $164.07 million a year ago.
In the fourth quarter alone, net loss fell 8 percent to $71.9 million from $78.5 million in the same period last year, while revenue rose 17.6 percent to $86.7 million from $73.69 million year over year.
While we recognize IOVA’s potential as an investment, our belief is that some AI stocks have more promise to deliver higher returns and have limited risk. If you’re looking for a very cheap AI stock that’s also a big beneficiary of Trump’s tariffs and onsuring, check out our free report Best short-term AI stocks.
Read more: 30 stocks that should double in 3 years and 11 Secret AI Stocks to Buy Right Now.
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