ImmunityBio, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on the stock and has a $8.00 price target.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight ImmunityBio’s potential in the oncology market. The company’s product, ANKTIVA, has shown significant promise beyond its initial application in bladder cancer, demonstrating a unique ability to enhance T-cell function in various tumor types. This broad applicability is supported by ongoing and planned clinical trials targeting different cancers, positioning ANKTIVA as a versatile treatment option with potential across solid and liquid tumors.
Additionally, ImmunityBio’s recent financial performance underscores its growing market presence, with ANKTIVA sales experiencing substantial growth. The implementation of a permanent J-code has facilitated increased adoption among U.S. urology practices, and the company’s strategic engagement with the FDA and potential inclusion in NCCN guidelines further bolster its market prospects. These elements collectively support Maldonado’s optimistic outlook and the reiterated Buy rating for ImmunityBio’s stock.
Y. Maldonado covers the Healthcare sector, focusing on stocks such as Merus, ImmunityBio, and I-MAB. According to TipRanks, Y. Maldonado has an average return of 3.4% and a 41.53% success rate on recommended stocks.