Maxim Group Keeps a Buy Rating on Heat Biologics (HTBX)

By Ryan Adsit

In a report issued on March 26, Jason McCarthy from Maxim Group maintained a Buy rating on Heat Biologics (HTBXResearch Report), with a price target of $14.00. The company’s shares closed last Monday at $8.37.

According to TipRanks.com, McCarthy is a top 25 analyst with an average return of 78.0% and a 73.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and SELLAS Life Sciences Group.

Currently, the analyst consensus on Heat Biologics is a Strong Buy with an average price target of $26.25, which is a 249.4% upside from current levels. In a report issued on October 14, BTIG also initiated coverage with a Buy rating on the stock with a $28.00 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.