In a report issued on February 2, Jason McCarthy from Maxim Group maintained a Buy rating on Heat Biologics (HTBX – Research Report), with a price target of $8.00. The company’s shares closed last Friday at $2.76, close to its 52-week low of $2.45.
According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -22.9% and a 14.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Reviva Pharmaceuticals Holdings, and Brainstorm Cell Therapeutics.
Heat Biologics has an analyst consensus of Moderate Buy, with a price target consensus of $15.00, representing a 449.5% upside. In a report issued on January 21, B.Riley Financial also maintained a Buy rating on the stock with a $10.00 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 $501.6K and GAAP net loss of $7.43 million. In comparison, last year the company earned revenue of $849.7K and had a GAAP net loss of $8.85 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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