ImmunityBio: D. Boral Capital Maintains Buy Rating with Raised PT to $24

ImmunityBio: D. Boral Capital Maintains Buy Rating with Raised PT to $24

ImmunityBio Inc (IBRX) has received a positive analyst rating update from D. Boral Capital, which maintains a Buy rating with a raised price target of $24.00. This update comes amidst a mixed market sentiment and follows recent earnings and sales forecasts for the company.

According to D. Boral Capital, the upgrade reflects ImmunityBio's potential in expanding its oncology portfolio and market growth. The analyst firm reiterated its optimism about the company's prospects, particularly in the face of increasing market competition. This rating update is significant, as it adds to the growing consensus among analysts who have been bullish on ImmunityBio's future performance.

The latest analyst ratings from TipRanks [2] show a moderate Buy rating from 1 analyst, with an average price target of $8.00. This suggests that while there is some optimism, the overall sentiment remains cautious. However, D. Boral Capital's raised price target indicates a more aggressive view on ImmunityBio's upside potential.

Technical indicators, as evaluated by Intellectia.ai [1], provide a mixed outlook. The stock has shown several negative signals and is within a falling trend, suggesting a potential weak performance in the near term. However, the short selling ratio has increased, indicating that short sellers may be anticipating a price reversion.

In terms of financial performance, ImmunityBio's earnings and sales forecasts for the next quarter are -$0.11 and $31.88M, respectively. These forecasts indicate a challenging period for the company, as it continues to operate at a loss. However, the company's ability to outperform its industry in the past year suggests resilience and potential for future growth.

Overall, while the analyst ratings from D. Boral Capital are encouraging, the mixed technical indicators and challenging financial forecasts highlight the need for cautious optimism. Investors should closely monitor ImmunityBio's progress and keep an eye on any further updates from the analyst community.

References:
[1] https://intellectia.ai/stock/IBRX/forecast
[2] https://www.tipranks.com/stocks/ibrx/forecast