Analyst Justin Zelin of BTIG reiterated a Buy rating on ImmunityBio, with a price target of $6.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Justin Zelin has given his Buy rating due to a combination of factors that highlight the potential of ImmunityBio’s ANKTIVA therapy. The data from the Phase II QUILT-3.055 study demonstrated that ANKTIVA effectively reverses lymphopenia in patients with checkpoint inhibitor-resistant NSCLC, which is associated with improved overall survival. Specifically, patients who achieved and maintained an absolute lymphocyte count (ALC) of 1,500 or more showed a significant increase in median overall survival compared to those who did not reach this threshold.
Furthermore, the study’s findings suggest that ALC could serve as a drug-sensitive biomarker, aligning with ANKTIVA’s mechanism of action as a lymphocyte-stimulating agent. This positions ANKTIVA as a first-in-class therapy with a unique clinical profile. While the survival benefits are promising, regulatory approval will likely depend on the ongoing randomized Phase III study. The potential for ALC recovery to be included as a secondary endpoint in future studies could further support the therapy’s adoption and labeling discussions.