ImmunityBio's (IBRX) Buy Rating Reiterated at D. Boral Capital

Key Points

• Investment analysts at D. Boral Capital have reissued a "buy" rating for ImmunityBio (NASDAQ:IBRX), with a target price set at $24.00.
• Other analysts have raised their ratings for ImmunityBio, with Piper Sandler increasing its price target from $4.25 to $5.00 and HC Wainwright setting a target at $8.00.
• ImmunityBio reported revenue of $26.43 million in its last earnings announcement, exceeding analyst expectations of $21.95 million.

D. Boral Capital reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX - Free Report) in a research note issued to investors on Monday,Benzinga reports. They currently have a $24.00 price target on the stock.

Several other brokerages also recently commented on IBRX. Piper Sandler upgraded ImmunityBio from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $4.25 to $5.00 in a research report on Tuesday, May 20th. HC Wainwright restated a "buy" rating and issued a $8.00 price objective on shares of ImmunityBio in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $10.75.

ImmunityBio Stock Performance

Shares of ImmunityBio stock traded up $0.01 during trading hours on Monday, hitting $2.60. The company's stock had a trading volume of 7,704,529 shares, compared to its average volume of 8,674,246. The business has a 50 day moving average price of $2.55 and a two-hundred day moving average price of $2.68. ImmunityBio has a 12-month low of $1.83 and a 12-month high of $7.48. The company has a market cap of $2.46 billion, a PE ratio of -5.42 and a beta of 0.30.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $26.43 million during the quarter, compared to analysts' expectations of $21.95 million. As a group, research analysts anticipate that ImmunityBio will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On ImmunityBio

Several large investors have recently added to or reduced their stakes in IBRX. Diversify Advisory Services LLC bought a new stake in ImmunityBio during the second quarter worth approximately $27,000. Financial Enhancement Group LLC bought a new stake in ImmunityBio during the second quarter worth approximately $28,000. Summit X LLC bought a new stake in ImmunityBio during the second quarter worth approximately $28,000. Envision Financial Planning LLC bought a new stake in ImmunityBio during the second quarter worth approximately $28,000. Finally, Thrive Wealth Management LLC bought a new stake in ImmunityBio during the first quarter worth approximately $30,000. 8.58% of the stock is owned by institutional investors.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.