HC Wainwright Increases Earnings Estimates for ImmunityBio

Key Points

• HC Wainwright raised ImmunityBio’s FY2027 EPS estimate to $0.10 from $0.07 and maintained a “Buy” rating with a $15 price target.
• ImmunityBio reported a quarterly loss of $0.22 per share, missing the $0.08 consensus estimate, while revenue of $51.24 million exceeded analyst expectations of $49.70 million.
• Analyst sentiment remains broadly positive, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $16.

ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) - Equities researchers at HC Wainwright raised their FY2027 earnings estimates for ImmunityBio in a report released on Thursday, October 15th. HC Wainwright analyst A. Maldonado now expects that the company will post earnings per share of $0.10 for the year, up from their previous forecast of $0.07. HC Wainwright has a "Buy" rating and a $15.00 price objective on the stock. The consensus estimate for ImmunityBio's current full-year earnings is ($0.44) per share.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $51.24 million for the quarter, compared to analyst estimates of $49.70 million.

Several other analysts also recently weighed in on the company. Jefferies Financial Group raised their target price on ImmunityBio from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of ImmunityBio in a research note on Tuesday, October 6th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $16.00 price target on shares of ImmunityBio in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

ImmunityBio Price Performance

Shares of IBRX stock opened at $10.00 on Friday. The company's fifty day moving average price is $8.54 and its two-hundred day moving average price is $7.96. The firm has a market capitalization of $10.60 billion, a P/E ratio of -10.31 and a beta of 0.02. ImmunityBio has a 12 month low of $1.95 and a 12 month high of $12.43.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of ImmunityBio by 29.4% in the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company's stock worth $298,399,000 after acquiring an additional 7,736,819 shares in the last quarter. State Street Corp raised its position in shares of ImmunityBio by 20.8% during the 2nd quarter. State Street Corp now owns 21,398,438 shares of the company's stock valued at $187,343,000 after acquiring an additional 3,690,335 shares in the last quarter. Bank of America Corp DE raised its position in shares of ImmunityBio by 2.7% during the 1st quarter. Bank of America Corp DE now owns 2,447,843 shares of the company's stock valued at $18,775,000 after acquiring an additional 65,340 shares in the last quarter. SEB Asset Management AB bought a new position in ImmunityBio during the first quarter worth $18,770,000. Finally, Private Advisor Group LLC lifted its stake in ImmunityBio by 923.5% during the first quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company's stock worth $12,644,000 after purchasing an additional 1,487,482 shares during the last quarter. Institutional investors own 8.58% of the company's stock.

Insider Transactions at ImmunityBio

In other news, Director Cheryl Cohen sold 81,056 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $10.50, for a total transaction of $851,088.00. Following the transaction, the director owned 100,309 shares of the company's stock, valued at approximately $1,053,244.50. This trade represents a 44.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry Simon sold 25,000 shares of ImmunityBio stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the completion of the transaction, the director owned 2,777,788 shares of the company's stock, valued at $29,861,221. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 66.10% of the company's stock.

Trending Headlines about ImmunityBio

Here are the key news stories impacting ImmunityBio this week:

• Positive Sentiment: The FDA expanded ANKTIVA’s label, when used with BCG, to include patients with BCG-unresponsive non-muscle-invasive bladder cancer (NMIBC) who have papillary-only tumors. The approval now covers both papillary disease and carcinoma in situ (CIS), allowing ImmunityBio to address a broader patient population. FDA Expands ANKTIVA Approval
• Positive Sentiment: The broader indication could materially expand ANKTIVA’s addressable market and support additional sales growth by making the therapy available to BCG-unresponsive NMIBC patients with papillary-only tumors, rather than primarily focusing on CIS disease. Reports also described the regulatory decision as arriving months ahead of the expected deadline. FDA Expands ImmunityBio’s ANKTIVA Label
• Positive Sentiment: HC Wainwright reaffirmed its “Buy” rating and maintained a $15 price target, implying substantial upside from the stock’s referenced $10 level. The analyst support adds to the positive reaction to the regulatory announcement. ImmunityBio Stock Climbs
• Neutral Sentiment: Separate coverage noted increased fund interest in IBRX and that Johnson & Johnson remains alert for potential deals. These items may support takeover speculation, but no transaction or partnership was announced, so the impact is uncertain. Funds Raise Bets as J&J Looks for Deals

About ImmunityBio

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body's immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.

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