B.Riley Financial analyst Justin Zelin reiterated a Buy rating on Heat Biologics (HTBX) today and set a price target of $4.00. The company’s shares closed last Wednesday at $1.07.
According to TipRanks.com, Zelin is a 1-star analyst with an average return of -11.3% and a 12.5% success rate. Zelin covers the Healthcare sector, focusing on stocks such as Abeona Therapeutics, Krystal Biotech, and Mustang Bio.
Heat Biologics has an analyst consensus of Moderate Buy, with a price target consensus of $4.50, representing a 328.6% upside. In a report issued on November 9, Maxim Group also maintained a Buy rating on the stock with a $5.00 price target.
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Based on Heat Biologics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $593.2K and GAAP net loss of $4.45 million. In comparison, last year the company earned revenue of $6,439 and had a GAAP net loss of $6.19 million.
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Heat Biologics, Inc. is a clinical stage company, which engages in the development of immunotherapies designed to activate and expand a patient’s T-cell mediated immune system against cancer. The company’s T-cell activating platform (TCAP) produces therapies designed to turn immunologically cold tumors to hot, and be administered in combination with checkpoint inhibitors and other immuno-modulators to increase clinical effectiveness. Its TCAP product candidates from the company’s ImPACT and ComPACT platforms are produced from allogeneic cell lines expressing tumor-specific proteins common among cancers. The company was founded by Jeffrey Alan Wolf on June 10, 2008 and is headquartered in Morrisville, NC.