ImmunityBio initiated with a Buy at EF Hutton

EF Hutton initiated coverage of ImmunityBio (IBRX) with a Buy rating and $30 price target ImmunityBio is a late-stage clinical biotechnology company “poised to revolutionize” cancer immunotherapy with its “triangle offense” approach, the analyst tells investors in a research note. The firm says that while bladder cancer is the first indication, Anktiva’s therapeutic potential extends to other solid tumors that benefit from checkpoint inhibitors.