Analyst Andres Y. Maldonado of H.C. Wainwright maintained a Buy rating on ImmunityBio, retaining the price target of $8.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors related to ImmunityBio’s promising developments with ANKTIVA in treating advanced non-small cell lung cancer (NSCLC). The recent data from the Phase 2 QUILT-3.055 trial highlights ANKTIVA’s potential as a lymphorestorative therapy, effectively addressing treatment-induced lymphopenia, a condition prevalent in more than half of patients with advanced malignancies. The trial results showed that 60% of patients experienced reversal of lymphopenia, with 80% maintaining an absolute lymphocyte count (ALC) above 1,200 cells/µL, leading to significant improvements in survival rates.
Furthermore, the correlation between lymphocyte restoration and survival in NSCLC aligns with findings from other trials, such as the QUILT-88 trial in metastatic pancreatic cancer, which has already garnered regulatory recognition. This suggests that ANKTIVA’s immune reconstitution approach may have broader applications across different tumor types. With its established presence in bladder cancer and ongoing developments in other malignancies, ANKTIVA is seen as a versatile and promising cytokine therapy. While more data is needed to fully understand its long-term efficacy, the current trajectory supports a cautiously optimistic outlook for its role in oncology.
In another report released yesterday, BTIG also reiterated a Buy rating on the stock with a $6.00 price target.