Wainwright maintains $8 target on ImmunityBio shares post-AUA

On Tuesday, H.C. Wainwright reaffirmed its confidence in ImmunityBio Inc (NASDAQ:IBRX), maintaining a Buy rating and an $8.00 price target. Currently trading at $2.63, the stock has seen significant volatility, with analyst targets ranging from $6 to $30. According to InvestingPro data, the company maintains a strong analyst consensus recommendation of 1.25 (Strong Buy). The endorsement follows ImmunityBio’s presentation at the 2025 American Urological Association (AUA) Annual Meeting over the weekend, where the company showcased long-term clinical outcomes for its product ANKTIVA (nogapendekin alfa inbakicept-pmln) in combination with BCG for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (NMIBC).

The presented data stemmed from the Phase 2/3 QUILT-3.032 study, which emphasized ANKTIVA’s potential to provide significant durability, bladder preservation, and survival benefits for patients. The study’s update focused on two critical patient cohorts: those with carcinoma in situ (CIS) with or without papillary disease (Cohort A) and those with papillary-only disease (Cohort B). The results indicated exceptional long-term response durability and bladder-sparing outcomes for both groups. Financial metrics from InvestingPro show the company’s revenue grew by over 2,270% in the last twelve months, though it maintains a challenging financial health score of 1.56 (Weak).

While the AUA meeting saw intense discussions over 12-month complete response rates between competing therapies from CG Oncology and Johnson & Johnson, H.C. Wainwright noted the importance of ANKTIVA’s current FDA approval and its established position in the NMIBC market. The filled New Drug Application (NDA) in the papillary space gives ANKTIVA a meaningful head start in the BCG-unresponsive NMIBC landscape.

ANKTIVA’s established clinical durability and presence in the market positions it favorably for potential market expansion in the NMIBC sector throughout 2025 and beyond. The reiteration of the Buy rating and price target reflects H.C. Wainwright’s positive outlook on ImmunityBio’s prospects in light of the recent clinical findings and market dynamics. With analysts forecasting sales growth and the company maintaining a healthy current ratio of 3.36, investors seeking deeper insights into IBRX’s potential can access 8 additional exclusive ProTips and comprehensive financial analysis through InvestingPro.

In other recent news, ImmunityBio, Inc. reported a notable increase in its first-quarter sales for 2025, with a 129% surge compared to the last quarter of 2024, reaching approximately $16.5 million in estimated net product revenue. This growth is attributed to a 150% rise in ANKTIVA unit sales volume, following the award of a permanent J-code. The company also submitted a supplemental Biologics License Application to the FDA for ANKTIVA combined with Bacillus Calmette-Guérin (BCG) to treat non-muscle invasive bladder cancer, along with an Expanded Access Protocol for treating lymphopenia. Additionally, ImmunityBio secured $75 million through a registered direct offering, with potential for an additional $90 million from warrants, pending standard closing conditions. In a strategic move, the company appointed Deloitte & Touche LLP as its new independent auditor, replacing Ernst & Young LLP. Meanwhile, H.C. Wainwright maintained a Buy rating for ImmunityBio with an $8.00 price target, emphasizing the significance of the FDA’s authorization for an Expanded Access Program to distribute recombinant BCG. This development aims to address the shortage of BCG for bladder cancer treatment, ensuring timely access for patients.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.