Andres Y. Maldonado, an analyst from H.C. Wainwright, maintained the Buy rating on ImmunityBio. The associated price target remains the same with $8.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight ImmunityBio’s strategic advancements and market potential. The recent approval of Anktiva in the U.K. for BCG-unresponsive NMIBC marks a significant international milestone, indicating the strength of the drug’s clinical data and its potential for broader market penetration. This approval not only opens up new revenue opportunities but also positions ImmunityBio for further expansion into the European market, with additional regulatory filings already underway.
Furthermore, the U.S. market dynamics, characterized by a market-driven pricing environment and rapid payer engagement, have contributed to strong early adoption and sales growth for Anktiva. The potential resolution of the FDA’s Refusal to File letter regarding the supplemental BLA for papillary disease could further enhance ImmunityBio’s market momentum. These strategic moves, coupled with robust clinical outcomes, underscore the company’s potential for long-term growth and justify the Buy rating.