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

D. Boral Capital reaffirmed their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note released on Thursday,Benzinga reports. D. Boral Capital currently has a $30.00 price target on the stock.

A number of other research analysts also recently commented on the company. BTIG Research began coverage on ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 price target for the company. HC Wainwright started coverage on shares of ImmunityBio in a report on Thursday, March 6th. They issued a “buy” rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ImmunityBio currently has an average rating of “Buy” and an average price target of $12.19.

ImmunityBio Price Performance

NASDAQ IBRX opened at $2.90 on Thursday. The firm has a market capitalization of $2.47 billion, a P/E ratio of -3.15 and a beta of 0.82. ImmunityBio has a 1-year low of $2.28 and a 1-year high of $10.53. The business’s 50-day simple moving average is $3.07 and its 200-day simple moving average is $3.67.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. On average, equities research analysts expect that ImmunityBio will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR acquired a new stake in ImmunityBio during the fourth quarter valued at approximately $26,000. Cibc World Markets Corp purchased a new stake in shares of ImmunityBio in the fourth quarter worth approximately $35,000. Maia Wealth LLC acquired a new stake in shares of ImmunityBio during the 4th quarter valued at $37,000. GF Fund Management CO. LTD. acquired a new position in shares of ImmunityBio in the fourth quarter worth $37,000. Finally, Schechter Investment Advisors LLC purchased a new stake in shares of ImmunityBio during the 4th quarter worth about $38,000. Institutional investors own 8.58% of the company’s stock.

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.