Immunovant, Inc. (NASDAQ:IMVT – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $44.00.
IMVT has been the subject of several analyst reports. Bank of America increased their price target on shares of Immunovant from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Truist Financial upped their price objective on shares of Immunovant from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, May 22nd. Citigroup increased their target price on shares of Immunovant from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Guggenheim raised their target price on Immunovant from $44.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immunovant in a report on Monday, July 6th.
View Our Latest Report on Immunovant
Insider Transactions at Immunovant
Institutional Investors Weigh In On Immunovant
Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Immunovant by 8.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,971 shares of the company’s stock valued at $708,000 after buying an additional 3,348 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Immunovant by 48.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,007,700 shares of the company’s stock worth $17,222,000 after buying an additional 329,354 shares during the period. Strs Ohio purchased a new stake in Immunovant in the first quarter worth about $27,000. Legal & General Group Plc lifted its holdings in Immunovant by 6.9% in the second quarter. Legal & General Group Plc now owns 77,296 shares of the company’s stock worth $1,237,000 after buying an additional 5,010 shares during the period. Finally, Invesco Ltd. boosted its position in Immunovant by 20.7% during the 2nd quarter. Invesco Ltd. now owns 66,750 shares of the company’s stock valued at $1,068,000 after acquiring an additional 11,438 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.
Immunovant Price Performance
IMVT opened at $39.25 on Friday. The stock’s 50 day simple moving average is $40.44 and its 200 day simple moving average is $32.83. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of -13.92 and a beta of 0.81. Immunovant has a 1 year low of $14.58 and a 1 year high of $45.42.
Immunovant (NASDAQ:IMVT – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). The firm had revenue of $7.09 million during the quarter, compared to analysts’ expectations of $7.09 million. During the same period in the previous year, the business posted ($0.71) earnings per share. As a group, sell-side analysts anticipate that Immunovant will post -2.96 EPS for the current year.
Immunovant Company Profile
Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.
The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.
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