A month has gone by since the last earnings report for ImmunityBio (IBRX). Shares have lost about 35.8% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is ImmunityBio due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for ImmunityBio, Inc. before we dive into how investors and analysts have reacted as of late.
Q4 Earnings & Sales Beat Estimates
Key Highlights
Total Revenues: $38.3 million, up 407% year over year. Net Loss per share: 6 cents vs. 8 cents in the year-ago period. Operating Expenses: R&D of $63.9 million, up 81% year over year; SG&A of $38.7 million, down 7% year over year. Liquidity (as of Dec 31, 2025): Cash, cash equivalents, and marketable securities of $242.8 million.Commercial Momentum and Revenue Drivers
The fourth quarter capped a year of accelerating adoption for Anktiva in BCG-unresponsive NMIBC. Net product sales rose 20% quarter over quarter and 431% year over year to $38.3 million, underscoring strengthening demand exiting the year. The company highlighted repeat prescribing behavior among physicians as a key adoption signal. The permanent J-code (effective Jan. 1, 2025) streamlined reimbursement and supported broader U.S. uptake throughout the year.
Future Outlook
Each sequential quarter in 2025 was stronger than the last, culminating in Q4 momentum that management believes carries into early 2026. Following Q4, EU conditional authorization and Saudi approvals expand the commercial opportunity. In Saudi Arabia, product shipments are ready to commence for bladder and lung indications. In Europe, the Accord partnership is set to execute a country-by-country access plan, prioritizing the Big 5 with Germany likely first to commercialize in 2026. Management reiterated there would be no forward financial guidance and framed 2026-2027 as a period of international ramp alongside deepening U.S. penetration. Notably, the historical share price trend has generally tracked periods of upward estimate revisions and positive surprises into early 2026, suggesting the market is responsive to execution milestones.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a flat trend in estimates revision.
The consensus estimate has shifted -6.67% due to these changes.
VGM Scores
At this time, ImmunityBio has a nice Growth Score of B, a score with the same score on the momentum front. However, the stock has a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
ImmunityBio has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
ImmunityBio belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Royalty Pharma (RPRX), has gained 0.4% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
Royalty Pharma reported revenues of $874 million in the last reported quarter, representing a year-over-year change of +17.8%. EPS of $1.46 for the same period compares with $1.15 a year ago.
Royalty Pharma is expected to post earnings of $1.18 per share for the current quarter, representing a year-over-year change of +11.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.4%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Royalty Pharma. Also, the stock has a VGM Score of C.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ImmunityBio, Inc. (IBRX): Free Stock Analysis Report
Royalty Pharma PLC (RPRX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).