Heat Biologics (HTBX) Receives a Buy from B.Riley Financial


B.Riley Financial analyst Mayank Mamtani maintained a Buy rating on Heat Biologics (HTBX) today and set a price target of $20.00. The company’s shares closed last Tuesday at $12.80.

According to TipRanks.com, Mamtani is a top 100 analyst with an average return of 50.7% and a 68.5% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Spectrum Pharmaceuticals.

Heat Biologics has an analyst consensus of Strong Buy, with a price target consensus of $26.25, which is a 54.5% upside from current levels. In a report released today, Maxim Group also maintained a Buy rating on the stock with a $22.00 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.

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