BTIG analyst Jeet Mukherjee has maintained their bullish stance on IBRX stock, giving a Buy rating yesterday.
Jeet Mukherjee’s rating is based on several compelling factors surrounding ImmunityBio’s potential in the cancer treatment landscape. The company recently hosted an analyst day where it presented promising data on ANKTIVA’s application in bladder cancer, highlighting its ability to work synergistically with the company’s broader pipeline to enhance the natural immune response against cancer. This innovative approach addresses the limitations of current standard of care treatments.
Additionally, the availability of rBCG is expected to remove a significant barrier to ANKTIVA’s adoption, potentially boosting sales in 2025. The company’s strategic moves, such as submitting a supplemental Biologics License Application (sBLA) for ANKTIVA in combination with BCG for non-muscle invasive bladder cancer, further strengthen its market position. The positive feedback from key opinion leaders on ANKTIVA’s ease of use and favorable tolerability profile compared to competitors also supports the Buy rating. Furthermore, ImmunityBio’s plans to address unmet needs in lymphopenia treatment and its ongoing regulatory filings underscore its commitment to expanding its therapeutic offerings, contributing to a positive outlook for the stock.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $8.00 price target.