Iovance Biotherapeutics initiated with a Buy at UBS

UBS analyst David Dai initiated coverage of Iovance Biotherapeutics (IOVA) with a Buy rating and $17 price target The firm launched coverage of SMID cap biotech sector with a focus in oncology and autoimmune diseases. Its top pick is Syndax. Iovance is “laser-focused” on manufacturing execution to drive near-term launch success for he first cell therapy in solid tumor, the analyst tells investors in a research note.