Heat Biologics (NASDAQ:HTBX) stock is heating up on Wednesday following coverage from Cantor Fitzgerald analyst Kristen Kluska.
Kluska starts off coverage of HTBX stock with an overweight rating. That matches up with other analysts’ thoughts on the stock. As of this writing, Heat Biologics has a consensus buy rating from four analysts.
The coverage from Cantor Fitzgerald also comes with a $22 price target for HTBX stock. That a bullish stance to take with the consensus price target for the stock sitting at $20 per share. It’s also worth noting that this represents a possible 179.5% upside over the stock’s previous closing price.
So why exactly is the Cantor Fitzgerald analyst taking such a strong stance on HTBX stock? Kluska believes that there’s plenty of room to grow for the company with its proprietary immunotherapy platforms. That’s based on recent data for HS-110, which is its lead candidate, reports TheFly.com.
Heat Biologics announced interim data from a Phase 2 trial of HS-110 in early February. At that time, the company said that patients using its lung cancer treatment had a much higher survival rate.
Heat Biologics is a U.S. biotechnology company based out of North Carolina. Its focus is on using immunotherapy to treat cancer. The company is also working on treatments for the novel coronavirus.
HTBX stock was up 14.7% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.