Is ImmunityBio, Inc. (IBRX) The Best NASDAQ Stock Under $10 to Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) is among the best NASDAQ stocks under $10 to buy. On December 15, Edward Tenthoff, an analyst at Piper Sandler, maintained a ‘Buy’ rating on ImmunityBio, Inc. (NASDAQ:IBRX), keeping a price target of $5, which suggests an upside potential of 125.23% from the current level.

Three days earlier, Jefferies lifted the price target on ImmunityBio, Inc. (NASDAQ:IBRX) to $9 from $8, reiterating a ‘Buy’ rating on the stock. This upward revision to the price target, reflecting over 250% upside potential, follows the European Medicines Agency’s (EMA) recommendation to grant conditional marketing authorization for Anktiva in NMIBC-CIS. This builds on the existing approvals in the United States and the United Kingdom.

According to TheFly, Jefferies analysts believe ImmunityBio, Inc. (NASDAQ:IBRX) is executing its plans smoothly to expand its geographic and commercial presence, while advancing its pipeline. As the company engages in regulatory dialogue on papillary disease, with the NCCN guideline decision forthcoming, the BCG-naive data in the latter half of next year could present “another label expansion opportunity,” Jefferies notes.

Overall, ImmunityBio, Inc. (NASDAQ:IBRX) is a consensus buy among all five analysts covering the stock. With price targets ranging from $5 to $24, the median target of $8 implies 260.36% upside.

ImmunityBio, Inc. (NASDAQ:IBRX) is a California-based commercial-stage biotechnology company specializing in therapies to combat cancers and infectious diseases. Founded in 2014, the company has a mission to “harness the body’s own immune system.”

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