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On Wednesday, H.C. Wainwright analysts reaffirmed a Buy rating for ImmunityBio Inc (NASDAQ: IBRX) with a price target of $8.00. Currently trading at $2.71, the stock has shown strong momentum with a 10% gain over the past week. According to InvestingPro, two analysts have recently revised their earnings estimates upward for the upcoming period, with price targets ranging from $5 to $30. The decision follows recent regulatory achievements by the company, including receiving the RMAT designation in February and Expanded Access authorization this month from the FDA for its Cancer BioShield platform. These developments are aimed at treating lymphopenia in patients with relapsed or refractory solid tumors.
The Cancer BioShield platform is anchored by ANKTIVA and PD-L1 t-haNK CAR-NK cells, designed to address immune collapse in difficult-to-treat cancers. At the ASCO 2025 conference, ImmunityBio presented data supporting ANKTIVA (N-803), an IL-15 superagonist, as the first approved lymphocyte-stimulating agent capable of reversing treatment-induced lymphopenia, a condition associated with early mortality. While the company maintains strong liquidity with a current ratio of 2.22, InvestingPro data indicates rapid cash consumption, a critical factor for investors monitoring the company’s development pipeline.
In a Phase 2 QUILT-88 trial involving 86 patients with advanced pancreatic cancer, the combination of low-dose chemotherapy, SBRT, ANKTIVA, and PD-L1 t-haNK cells showed a survival benefit linked to immune restoration. Patients who achieved an absolute lymphocyte count (ALC) of ≥1,000 cells/µL had a median overall survival (OS) of 7.9 months, compared to 4.3 months for those who remained lymphopenic.
The data further indicated that patients with both lymphocyte recovery and lower baseline CA19-9 levels had a median OS of 10.1 months. A lower neutrophil-to-lymphocyte ratio, driven by the depletion of MDSCs, also correlated with improved survival outcomes.
The analysts emphasized the significance of these findings, noting that ANKTIVA represents a novel approach to addressing immune system collapse, with over 77% of trial participants achieving immune recovery. The reiterated Buy rating and $8 price target reflect confidence in ImmunityBio’s potential to impact cancer treatment strategies. Despite impressive gross margins of nearly 100%, the company remains unprofitable, with analysts not expecting profitability this year. For deeper insights into ImmunityBio’s financial health and additional metrics, explore InvestingPro, which offers 8 more exclusive ProTips and comprehensive financial analysis.
In other recent news, ImmunityBio, Inc. received authorization from the U.S. Food and Drug Administration for Expanded Access to ANKTIVA, a treatment for lymphopenia in adults with refractory or relapsed solid tumors. This development follows the company’s presentation at the ASCO Annual Meeting 2025, where ANKTIVA, in combination with CAR-NK therapy, showed significant survival benefits for patients with advanced metastatic pancreatic cancer. Additionally, ImmunityBio faced a setback when the FDA issued a Refusal to File letter for their supplemental biologics license application for ANKTIVA in non-muscle invasive bladder cancer with papillary disease. Despite this, Piper Sandler upgraded ImmunityBio’s stock from Neutral to Overweight, raising the price target to $5, citing the company’s growth trajectory and potential market expansions. BTIG also maintained a Buy rating with a $6 price target, highlighting ANKTIVA’s promising efficacy and the company’s plans to address FDA concerns. H.C. Wainwright reaffirmed a Buy rating with an $8 price target following ImmunityBio’s presentation at the American Urological Association Annual Meeting, emphasizing ANKTIVA’s potential for significant durability and survival benefits. ImmunityBio remains focused on clarifying the FDA’s decision and advancing its treatment options for high-risk cancer patients.
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