ImmunityBio, Inc. (IBRX) AI Stock Analysis

ImmunityBio, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies and vaccines harnessing the immune system to treat cancers and infectious diseases. Its platforms include antibody cytokine fusion proteins, synthetic immunomodulators, vaccine technologies, natural killer cells, and adaptive T cell systems. The company is advancing therapeutic candidates through Phase II and III clinical trials targeting liquid and solid tumors, such as bladder, pancreatic, and lung cancers, as well as pathogens including SARS-CoV-2 and HIV. It maintains strategic partnerships with organizations like the National Cancer Institute and licensing agreements with CytRx Corporation and EnGeneIC Pty Limited.

Revenue climbed from $934,000 in FY2021 to $14.7M in FY2024 and reached $113.3M in FY2025, reflecting a 5-year revenue CAGR of 184.8%. In the latest quarter ended June 30, 2026, quarterly revenue grew 93.9% year-over-year, bringing trailing twelve month revenue to $165.8M. Despite gross margin standing at 99.3% in FY2025, operating margin was -226.0% and net margin was -310.2%. Annual net income was -$346.8M in FY2021, -$416.6M in FY2022, -$583.2M in FY2023, -$413.6M in FY2024, and -$351.4M in FY2025, resulting in FY2025 EPS of -$0.38 and trailing twelve month EPS of -$0.97.

As of June 30, 2026, ImmunityBio held $357.4M in cash and short-term investments against $813.1M in total debt, yielding net debt of $455.7M. Total assets stood at $628.5M, while shareholders' equity was -$1.05B. The company maintained a current ratio of 5.72. Operating cash flow in FY2025 was -$304.9M and free cash flow was -$308.8M, with capital expenditures of $3.8M. Over 5 years, the company's share count increased 164.4%.

IBRX closed at $9.18 on October 16, 2026, with an enterprise value of $9.60B and a market cap of $9.73B. The stock trades at a forward P/E of 123.5x and a price-to-sales ratio of 58.7x, both elevated relative to the US-listed Healthcare median forward P/E of 17.3x and price-to-sales median of 4.1x. Over the past 1 year, the stock returned 262.8%, compared to a 16.8% return for the S&P 500. Over a 5-year period, the stock declined 1.3%, trailing the S&P 500 return of 83.0%.

Wall Street analysts track ImmunityBio with 3 Strong Buy ratings, 1 Buy rating, and zero Hold, Sell, or Strong Sell ratings. The mean price target is $14.25, representing an upside of 55.2% over the last close of $9.18. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $226.6M and EPS of -$0.92. For the following fiscal year, 3 analysts estimate revenue of $471.9M and EPS of -$0.07. ImmunityBio beat EPS estimates in 3 of the last 4 quarters, with its next earnings report scheduled for November 3, 2026.

This page is an AI-written research summary of ImmunityBio, Inc. (IBRX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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