HC Wainwright Reaffirms Buy Rating for ImmunityBio (NASDAQ:IBRX)

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $8.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 174.44% from the stock’s current price. HC Wainwright also issued estimates for ImmunityBio’s Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($0.36) EPS, FY2027 earnings at ($0.17) EPS, FY2028 earnings at $0.03 EPS and FY2029 earnings at $0.29 EPS.

A number of other brokerages have also weighed in on IBRX. BTIG Research initiated coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ImmunityBio currently has a consensus rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Stock Up 1.6 %

NASDAQ IBRX traded up $0.05 during trading on Thursday, reaching $2.92. 3,098,439 shares of the stock traded hands, compared to its average volume of 6,140,503. The stock’s 50-day moving average price is $3.07 and its 200 day moving average price is $3.68. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -3.16 and a beta of 0.82. ImmunityBio has a fifty-two week low of $2.28 and a fifty-two week high of $10.53.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The business had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. Analysts anticipate that ImmunityBio will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently made changes to their positions in IBRX. Stephens Inc. AR acquired a new position in shares of ImmunityBio in the 4th quarter valued at about $26,000. Cibc World Markets Corp bought a new position in shares of ImmunityBio during the 4th quarter worth approximately $35,000. Maia Wealth LLC acquired a new stake in shares of ImmunityBio during the 4th quarter worth approximately $37,000. GF Fund Management CO. LTD. bought a new stake in shares of ImmunityBio in the 4th quarter valued at $37,000. Finally, Schechter Investment Advisors LLC acquired a new position in shares of ImmunityBio during the 4th quarter valued at $38,000. 8.58% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.