SunTrust analyst Robyn Karnauskas initiated coverage of Immunovant (IMVT) with a Buy rating and $24 price target, saying 2020 is an FcRn data rich year and that the space has room for multiple players. The analyst says she believes Immunovant and Momenta (MNTA) have more potent anti-FcRn therapies and will likely be more effective/convenient. She believes it is not the time to pick which drug is best, and expects both companies to go up on positive data in the space, adding that there is enough skepticism still about FcRn efficacy that the current valuation for Immunovant does not reflect success or the massive potential for 1401.