800% Upside For This Biotech Stock - Analyst Initiates Coverage On Bladder Cancer Focused ImmunityBio
Portfolio Pulse from Vandana Singh
EF Hutton has initiated coverage on ImmunityBio Inc. (NASDAQ:IBRX) with a Buy rating and a price target of $30, suggesting an 800% upside. The company's Anktiva therapy, approved by the FDA for certain bladder cancers, shows promise in enhancing cancer immunotherapy. Recent trials indicate significant survival benefits when combined with checkpoint inhibitors.
October 23, 2024 | 7:35 pm
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POSITIVE IMPACT
ImmunityBio's Anktiva, when combined with Bristol Myer Squibb's Opdivo, shows promising results in enhancing cancer immunotherapy, particularly in non-small cell lung cancer.
The combination of Anktiva with Bristol Myer Squibb's Opdivo has shown improved survival rates in trials, which could enhance the effectiveness of Bristol Myer Squibb's existing cancer therapies.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
EF Hutton has initiated coverage on ImmunityBio with a Buy rating and a $30 price target, indicating an 800% upside. The company's Anktiva therapy shows potential in revolutionizing cancer immunotherapy, particularly for bladder cancer.
The initiation of coverage with a Buy rating and a high price target suggests strong confidence in ImmunityBio's future performance. The FDA approval of Anktiva and its promising trial results further support this positive outlook.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
ImmunityBio's Anktiva, when combined with Merck's Keytruda, shows promising results in enhancing cancer immunotherapy, particularly in non-small cell lung cancer.
The combination of Anktiva with Merck's Keytruda has shown improved survival rates in trials, which could enhance the effectiveness of Merck's existing cancer therapies.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50