Selected stock price target news of the day - December 28th, 2023

By: Matthew Otto

FDA Imposes Clinical Hold on Iovance’s Lung Cancer Trial

FDA decides to impose a clinical hold on Iovance Biotherapeutics’ lung cancer treatment study. The regulatory action came in response to the reported death of a study patient potentially linked to the experimental therapy. In response, Iovance promptly announced a pause in enrollment for new patients and a vigilant monitoring of those who had previously undergone the treatment. Analyst sentiment, as reflected in FactSet data, remains bullish, with 12 out of 13 analysts recommending a Buy rating for the stock, while one suggests holding the shares.

Despite this setback, the preliminary data from July 2023 and an updated analysis in November of the same year showcased results with ongoing responses and a duration of response exceeding six months in 71% of confirmed responders in the trial. The company has over 700 patients treated across multicenter trials in solid tumor cancers, including more than 100 receiving LN-145 for lung cancer.

Divergent Analyst Views on Iovance Biotherapeutics

Truist Securities analyst Asthika Goonewardene Reiterated a Buy rating and a $17 price target.
HC Wainwright & Co. analyst Joseph Pantginis Maintained a Buy rating and lowered the price target from $38 to $28.

Which Analyst has the best track record to show on IOVA?

Analyst Peter Lawson (BARCLAYS) currently has the highest performing score on IOVA with 3/6 (50%) price target fulfillment ratio. His price targets carry an average of $12.07 (203.54%) potential upside. Iovance Biotherapeutics stock price reaches these price targets on average within 105 days.

Microsoft’s AI-Powered Growth and Cloud Dominance

Analyst Daniel Ives from Wedbush is optimistic about Microsoft’s future, particularly in artificial intelligence. Ives raised the target price on the stock emphasizing the potential for sustained AI-powered growth. He anticipates that Microsoft’s competitive edge in cloud computing, surpassing rivals like Amazon and Google, will be a key driver. Moreover, Ives projects that Microsoft’s AI technology will see broad-based adoption, estimating that over 60% of its customer base will leverage it for commercial purposes in the next three years, contributing around $25 billion to the company’s revenue by fiscal 2025.

Despite the challenges, such as a recent lawsuit from the New York Times over alleged unauthorized use of content, Wall Street remains optimistic about Microsoft’s ability to navigate such issues. Macquarie analyst Frederick Havemeyer believes that hyperscalers like Microsoft are well-positioned to negotiate data licensing agreements and collaborate with partners, exemplified by Microsoft’s potential collaboration with OpenAI.

Analysts Boost Targets for Microsoft on AI and Cloud Success

Wedbush analyst Daniel Ives maintained an Outperform rating and raised the price target from $425 to $450.
Macquarie analyst Frederick Havemeyer reiterated an Outperform rating and set a target price of $430.

Which Analyst has the best track record to show on MSFT?

Analyst Blair Abernethy (ROSENBLATT) currently has the highest performing score on MSFT with 9/9 (100%) price target fulfillment ratio. His price targets carry an average of $47.11 (14.37%) potential upside. Microsoft stock price reaches these price targets on average within 171 days.