ImmunityBio’s Promising Growth and Strategic Expansion Justify Buy Rating Despite Regulatory Setback

ImmunityBio (IBRX – Research Report), 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.

Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight ImmunityBio’s promising market position and growth potential. The commercial launch of ANKTIVA in the first quarter of 2025 demonstrated significant early success, with a notable increase in net product revenue and unit sales volume. This growth is supported by the implementation of a permanent J-code, which has facilitated reimbursement and adoption across urology practices.
Additionally, the strategic expansion through ImmunityBio’s Expanded Access Program has increased access to ANKTIVA and recombinant BCG, particularly in rural and underserved areas. The recent clinical data from the QUILT 3.032 study further strengthens ANKTIVA’s position in the NMIBC treatment landscape, showing impressive results in complete response duration and cystectomy avoidance. Despite the regulatory setback with the FDA’s Refusal to File letter, the strong efficacy data and prior alignment with the agency suggest that the issues may be procedural and resolvable, supporting the Buy rating with a price target of $8.