Immunitybio Inc (IBRX) PT Raised to $12 at Piper Sandler

Piper Sandler analyst Edward Tenthoff raised the price target on Immunitybio Inc (NASDAQ: IBRX) to $12.00 (from $7.00) while maintaining an Overweight rating.

The analyst commented: 'ANKTIVA Growing, Label Expansion Trials Underway; U.S. ANKTIVA net revenues grew ~700% to $113 million in 2025, and we now project $195 million in 2026. ANKTIVA is now approved in 33 countries. We await a decision on ANKTIVA inclusion in NCCN guidelines for BCG-unresponsive papillary NMIBC, and ImmunityBio submitted additional data to FDA to potentially support sBLA re-submission. We are confident positive QUILT-2.005 data in 4Q:26 could lead to ANKTIVA label expansion in BCG-naïve CIS NMIBC patients in 2027. ANKTIVA was recently approved in Saudi Arabia for NSCLC, and ImmunityBio is conducting the Phase III ResQ201A trial of ANKTIVA + TEVIMBRA in 2nd-line NSCLC, and the QUILT-2.023 in 1st-line NSCLC. ImmunityBio is in the process of initiating several randomized controlled trials of ANKTIVA and t-haNK cell therapies across multiple tumor types. We reiterate our Overweight rating and are increasing our price target to $12 from $7 by aligning pipeline value with ongoing trials."

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