ImmunityBio (IBRX, Financial) encountered a challenge as the FDA issued a refusal to file letter for the company's supplemental application of Anktiva in combination with Bacillus Calmette-Guerin. This application targeted treatment for patients with BCG-unresponsive non-muscle invasive bladder cancer, specifically those with papillary-only disease. This decision came unexpectedly, especially after previous unanimous guidance from the agency in January, which had supported proceeding with the application.
Despite the setback, analyst Andres Maldonado from H.C. Wainwright maintains a Buy rating on the stock, indicating confidence in addressing the regulatory hurdles. However, this development implies potential delays in the availability of Anktiva for treating papillary NMIBC, leaving many questions unanswered for the company and its investors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for ImmunityBio Inc (IBRX, Financial) is $11.25 with a high estimate of $30.00 and a low estimate of $4.25. The average target implies an upside of 455.56% from the current price of $2.03. More detailed estimate data can be found on the ImmunityBio Inc (IBRX) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, ImmunityBio Inc's (IBRX, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for ImmunityBio Inc (IBRX, Financial) in one year is $75.81, suggesting a upside of 3643.7% from the current price of $2.025. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the ImmunityBio Inc (IBRX) Summary page.
