Immunitybio

IBRX · NASDAQ

$8.77+$0.35 (+4.16%)TodayMarket closed ·
Prev close $8.42

IBRX analyst rating

BuyConsensus of 7 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy7
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 6 analysts

Average $13.01 (+48.3% upside)

Low
$12.12
Now
$8.77
High
$15.75

Upgrades and downgrades

The latest rating actions, newest first

IBRX analyst upgrades, downgrades and rating actions
FirmDateActionRating
JefferiesOct 15, 2026MaintainsBuy
HC Wainwright & Co.Oct 15, 2026MaintainsBuy
HC Wainwright & Co.Jun 2, 2026MaintainsBuy
BTIGMay 21, 2026MaintainsBuy
HC Wainwright & Co.May 20, 2026MaintainsBuy
D. Boral CapitalMay 5, 2026MaintainsBuy
D. Boral CapitalApr 21, 2026MaintainsBuy
D. Boral CapitalApr 8, 2026MaintainsBuy
D. Boral CapitalMar 26, 2026MaintainsBuy
D. Boral CapitalMar 23, 2026MaintainsBuy

The case for and against

Updated Oct 15, 2026

Bull case

ImmunityBio is positioned as a differentiated commercial-stage biotechnology company because ANKTIVA already has approved use in BCG-unresponsive NMIBC, while the ASCO 2026 lung readouts strengthen the case that its IL-15-driven immune-restoration mechanism can work beyond bladder cancer. In first-line NSCLC, ANKTIVA plus pembrolizumab improved median PFS to 7.0 months versus 2.2 months in TPS ≥50% patients and showed an OS signal of 34.7 months versus 20.2 months in chemotherapy-containing cohorts, with biomarker-linked lymphocyte expansion adding biological credibility. The bull thesis is further supported by stronger bladder-market durability versus pembrolizumab, NCCN Category 2A status in March '26, an FDA workshop that may favor papillary-only expansion, and a Tokyo-172 BCG supply strategy that could widen commercialization and near-term adoption.

Bear case

ImmunityBio is a high-risk early commercial-stage biotechnology company whose valuation depends on future execution rather than current earnings, with FY34 GAAP EPS of $3.92 only supporting the model under aggressive assumptions and a 13x multiple discounted at 14%. Its outlook is weakened by clinical uncertainty, as ongoing and future trials may fail to show enough efficacy for regulatory expansion, while approvals, reimbursement, and physician adoption could lag for ANKTIVA’s global rollout. Financially, the company may need additional capital to fund commercialization, Europe expansion, and pipeline development, leaving it exposed to dilution and execution risk despite improved visibility after a major European regulatory overhang was removed.

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