Capricor slips after report on potential Deramiocel rejection

The analyst fair value estimate for Iovance Biotherapeutics has been raised from US$9.33 to US$10.00 per share, with recent price targets clustering in the US$10 to US$15 range. Barclays, TD Cowen and Mizuho have all lifted their price targets, with the upper end of recent moves reaching US$15, citing Amtagvi revenue trends, margin progression and the potential impact of upcoming data such as IOV-LUN-202. UBS pointed to Amtagvi revenue of US$91m and a 56% gross margin in Q2, supported by manufacturing efficiency and ATC performance, though it kept a Neutral rating and flagged that a 74% post Q2 rally has already reflected much of the near term upside. Barclays cited its physician survey and sees durability as a key differentiator for lifileucel in second line lung cancer ahead of the IOV-LUN-202 data in Q4, which it views as an important potential catalyst. The updated model also shows the projected net profit margin moving from 7.99% to about 9.50% and the future P/E multiple adjusting from 83.56x to about 75.55x.

Johnson & Johnson has agreed to a $5.5 billion settlement covering nearly all of its remaining talc litigation, a deal that requires participation by plaintiff firms representing at least 95% of the remaining claims before it becomes effective, with a first payment of up to $3 billion expected in 2027 and additional payments beginning in 2028. The agreement addresses roughly 76,000 lawsuits alleging that the company's talc-based baby powders contained asbestos and caused ovarian cancer. The news comes as JNJ stock has risen 18.3% in the past three months and 30.6% this year, against a 10.9% gain for the industry, supported by a raised 2026 outlook and Innovative Medicine segment sales up 6.2% on an organic basis in the first half of 2026 despite the loss of exclusivity of Stelara. That segment has now posted five consecutive quarters of sales above $15 billion, while J&J's newer cancer drugs Carvykti, Tecvayli, Talvey and Rybrevant/Lazcluze combined for $2.6 billion in first-half sales. MedTech grew more slowly, with second-quarter sales up 4.5% year over year to $8.93 billion, or 3.6% operationally, as Abiomed sales fell 2% and cardiovascular operational growth reached just 3.1%. J&J still targets around $100 billion in 2026 revenues, with $49.4 billion already booked in the first half, and the Zacks Consensus Estimate for 2026 earnings per share has edged up from $11.59 to $11.61 over the past 30 days.