Morgan Stanley Reaffirms Their Buy Rating on IO Biotech (IOBT)

Morgan Stanley analyst Matthew Harrison maintained a Buy rating on IO Biotech (IOBTResearch Report) today and set a price target of $11.00. The company’s shares opened today at $2.94.

Harrison covers the Healthcare sector, focusing on stocks such as Moderna, Gilead Sciences, and Editas Medicine. According to TipRanks, Harrison has an average return of 7.9% and a 53.46% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IO Biotech with a $10.50 average price target, implying a 257.14% upside from current levels. In a report released on January 10, H.C. Wainwright also assigned a Buy rating to the stock with a $10.00 price target.

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IOBT market cap is currently $85.01M and has a P/E ratio of -1.16.

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IO Biotech Inc is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on T-win technology platform. The product candidates are designed to induce the immune system to simultaneously target and disrupt multiple pathways that regulate tumor-induced immunosuppression.

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