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Trading List: Oct. 5 - Updates & Analyst Actions - IOVA, TGTX

$IOVA - $TGTX - On our trading list with news today or analyst comments with our opinion & trade ideas. Iovance price target lowered by Piper. TG Therapeutics positive chart comments.

Iovance Biotherapeutics price target lowered to $35 from $40 at Piper Sandler

Piper Sandler analyst Joseph Catanzaro lowered the firm's price target on Iovance Biotherapeutics to $35 from $40 but keeps an Overweight rating on the shares after the company disclosed that it was able to come to an agreement with the FDA around required follow-up for melanoma cohort 4, but was unable to agree on required potency assay to fully define lifileucel product during manufacturing. The analyst contends that manufacturing-related issues are typically addressable with time - even though this one is "unique" - though he also sees this development adding risk with limited visibility while pushing back its commercial timelines.

Our Take:  Stock is getting crushed after hours on the FDA news. Big disappointment for current shareholders as a drug manufacturing issue has delayed the progress of their drug. Now remember this also happened to $IMMU - Immunomedics last year and once they solved the issue in the making of their drug it received approval. After a successful launch of the drug IMMU got bought out, as it DOUBLED over that weekend of the deal. So in the short term there maybe pain here, in the long run this is still a potential home run. If you see an oversold/panic it might be a good opportunity to make a trade.

Chart Look - TGTX is at / near all-time highs! On the chart we notice a big buying day and that it is above all 3 of the moving averages that we watch. 20, 50, and 200 day. The MACD and the Money Flow seem favorable.

Any opinions or comments on this?  Please post below.

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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