Down Nearly 80% From Its High, Is Iovance Biotherapeutics Stock Too Cheap to Pass Up?

When a stock is in a freefall, there's usually a justifiable reason for the decline. But for investors with a high risk tolerance, it could make for a potentially attractive contrarian play. A stock that has fallen to a fraction of its price could possess significant upside if it's able to prove its doubters wrong.One stock that's down big of late is Iovance Biotherapeutics (NASDAQ: IOVA). Entering trading this week, the healthcare stock has lost close to 60% of its value in the past three months, and it's down 77% from its 52-week high of $15.99. Has it become a bargain buy and can it make for a worthwhile contrarian pick at this point, or should investors simply avoid this volatile stock?Iovance could have a bright future ahead as the Food and Drug Administration (FDA) approved Amtagvi last year, as a treatment for unresectable or metastatic melanoma. Analysts expect it to generate well over $800 million in sales by 2029 and project that it may reach blockbuster status (sales of at least $1 billion) by the end of the decade. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool