Maxim Group analyst Jason McCarthy reiterated a Buy rating on Heat Biologics (HTBX) yesterday and set a price target of $5.00. The company’s shares closed last Monday at $2.11.
According to TipRanks.com, McCarthy is a top 100 analyst with an average return of 39.6% and a 55.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Heat Biologics is a Moderate Buy with an average price target of $5.00.
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Based on Heat Biologics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $901.9K and GAAP net loss of $6.29 million. In comparison, last year the company earned revenue of $701.1K and had a GAAP net loss of $5.72 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.