In a report released today, Mayank Mamtani from B.Riley Financial maintained a Buy rating on Heat Biologics (HTBX), with a price target of $20.00. The company’s shares closed last Thursday at $5.77, close to its 52-week low of $1.37.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 39.4% and a 56.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Spectrum Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Heat Biologics with a $30.00 average price target, a 423.6% upside from current levels. In a report issued on December 16, Brookline Capital Markets also reiterated a Buy rating on the stock with a $35.00 price target.
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Based on Heat Biologics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $849.7K and GAAP net loss of $8.85 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.