Over a week ago
Recommendations
BofA raised the…
BofA raised the firm's price target on Immunovant to $28 from $26 and keeps a Buy rating on the shares. The company's Q4 results were relatively in-line on cash burn, and it reiterated its pipeline catalyst milestones, the analyst tells investors. The firm sees a favorable risk/reward scenario with the stock, with further de-risking catalysts in 2023.
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$23.73 / +2.525 (+11.91%)
05/22/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 $23.73 / +2.525 (+11.91%)
05/23/23 Guggenheim Immunovant price target raised to $32 from $30 at Guggenheim 05/23/23 H.C. Wainwright Immunovant price target raised to $27 from $26 at H.C. Wainwright 05/22/23 Chardan Immunovant price target raised to $32 from $21 at Chardan 05/01/23 BofA Immunovant initiated with a Buy at BofA $23.73 / +2.525 (+11.91%)
05/22/23 Immunovant reports Q4 EPS (46c), consensus (43c) 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c) $23.73 / +2.525 (+11.91%)
05/22/23 Fly Intel: Pre-market Movers
Recommendations
Guggenheim analyst Yatin…
Guggenheim analyst Yatin Suneja raised the firm's price target on Immunovant to $32 from $30 and keeps a Buy rating on the shares following the company's Q4 earnings release. The company reported that both the FDA and MEDSAFE, New Zealand's regulatory agency, cleared the IND and Clinical Trial Application for IMVT-1402, respectively, and since some investors were worried about the delay in IND clearance the news "should be welcomed by the Street," the analyst noted.
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$23.73 / +2.525 (+11.91%)
05/22/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 $23.73 / +2.525 (+11.91%)
05/23/23 H.C. Wainwright Immunovant price target raised to $27 from $26 at H.C. Wainwright 05/22/23 Chardan Immunovant price target raised to $32 from $21 at Chardan 05/01/23 BofA Immunovant initiated with a Buy at BofA 04/25/23 Citi Immunovant initiated with a Buy at Citi $23.73 / +2.525 (+11.91%)
05/22/23 Immunovant reports Q4 EPS (46c), consensus (43c) 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c) $23.73 / +2.525 (+11.91%)
05/22/23 Fly Intel: Pre-market Movers
Recommendations
H.C. Wainwright analyst…
H.C. Wainwright analyst Douglas Tsao raised the firm's price target on Immunovant to $27 from $26 and keeps a Buy rating on the shares. The analyst says development of IMVT-1402 is "picking up steam" with the company be positioned to initiate Phase 2 studies next year.
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$23.73 / +2.525 (+11.91%)
05/22/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 $23.73 / +2.525 (+11.91%)
05/22/23 Chardan Immunovant price target raised to $32 from $21 at Chardan 05/01/23 BofA Immunovant initiated with a Buy at BofA 04/25/23 Citi Immunovant initiated with a Buy at Citi 03/31/23 Piper Sandler Immunovant initiated with an Overweight at Piper Sandler $23.73 / +2.525 (+11.91%)
05/22/23 Immunovant reports Q4 EPS (46c), consensus (43c) 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c) $23.73 / +2.525 (+11.91%)
05/22/23 Fly Intel: Pre-market Movers
Recommendations
Chardan analyst Matthew…
Chardan analyst Matthew Barcus raised the firm's price target on Immunovant to $32 from $21 and keeps a Buy rating on the shares after the company reported fiscal year results and update on "significant progress" made with IMVT-1402, the company's next-gen anti-FcRN therapy. The firm views the drug class as "largely de-risked" and thinks IMVT-1402 is "capable of providing an ideal safety profile while delivering a comparable efficacy profile to that seen with batoclimab," the analyst tells investors.
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$23.79 / +2.585 (+12.19%)
05/22/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 $23.79 / +2.585 (+12.19%)
05/01/23 BofA Immunovant initiated with a Buy at BofA 04/25/23 Citi Immunovant initiated with a Buy at Citi 03/31/23 Piper Sandler Immunovant initiated with an Overweight at Piper Sandler 03/29/23 Stifel Immunovant initiated with a Buy at Stifel $23.79 / +2.585 (+12.19%)
05/22/23 Immunovant reports Q4 EPS (46c), consensus (43c) 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c) $23.79 / +2.585 (+12.19%)
05/22/23 Fly Intel: Pre-market Movers
On The Fly
Check out this morning's…
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Hot Stocks
As of March 31, 2023,…
As of March 31, 2023, Immunovant's cash and cash equivalents totaled $376.5 million, which is expected to fund operations into the second half of calendar year 2025.
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02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 05/01/23 BofA Immunovant initiated with a Buy at BofA 04/25/23 Citi Immunovant initiated with a Buy at Citi 03/31/23 Piper Sandler Immunovant initiated with an Overweight at Piper Sandler 03/29/23 Stifel Immunovant initiated with a Buy at Stifel 05/22/23 Immunovant reports Q4 EPS (46c), consensus (43c) 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c)
Earnings
"During the past…
"During the past quarter, we made significant progress with IMVT-1402, including receiving the IND clearance by the FDA, and the initiation of a Phase 1 clinical trial following the approval by MEDSAFE to proceed," said Pete Salzmann, M.D., chief executive officer at Immunovant. "This is an important step as we seek to expeditiously generate Phase 1 data and accelerate a global development program for IMVT-1402."
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02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 05/01/23 BofA Immunovant initiated with a Buy at BofA 04/25/23 Citi Immunovant initiated with a Buy at Citi 03/31/23 Piper Sandler Immunovant initiated with an Overweight at Piper Sandler 03/29/23 Stifel Immunovant initiated with a Buy at Stifel 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c)
Conference/Events
Meeting to be held in…
Meeting to be held in Baltimore on May 2 hosted by Piper Sandler.
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02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 11/04/22 Immunovant announces anticipated milestones 05/01/23 BofA Immunovant initiated with a Buy at BofA 04/25/23 Citi Immunovant initiated with a Buy at Citi 03/31/23 Piper Sandler Immunovant initiated with an Overweight at Piper Sandler 03/29/23 Stifel Immunovant initiated with a Buy at Stifel 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c) 11/04/22 Immunovant reports Q2 EPS (41c), consensus (39c)
Conference/Events
Meeting to be held in…
Meeting to be held in Baltimore on May 2 hosted by Piper Sandler.
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02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 11/04/22 Immunovant announces anticipated milestones 05/01/23 BofA Immunovant initiated with a Buy at BofA 04/25/23 Citi Immunovant initiated with a Buy at Citi 03/31/23 Piper Sandler Immunovant initiated with an Overweight at Piper Sandler 03/29/23 Stifel Immunovant initiated with a Buy at Stifel 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c) 11/04/22 Immunovant reports Q2 EPS (41c), consensus (39c)
Initiation
BofA analyst Jason…
BofA analyst Jason Gerberry initiated coverage of Immunovant with a Buy rating and $26 price target. Immunovant is a clinical stage biotech focusing on developing drugs to treat autoimmune disorders, the analyst tells investors in a research note. The firm is most bullish on the company's lead asset for the treatment of thyroid eye disease. It views the stock's risk/reward as favorable into the 2023 data updates.
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02/03/23 Immunovant expects cash to fund operations into 2H25 02/03/23 Immunovant decides not to pursue WAIHA indication for batoclimab 02/03/23 Immunovant to initiate Phase 1 trial of IMVT-1402 in early 2023 11/04/22 Immunovant announces anticipated milestones 04/25/23 Citi Immunovant initiated with a Buy at Citi 03/31/23 Piper Sandler Immunovant initiated with an Overweight at Piper Sandler 03/29/23 Stifel Immunovant initiated with a Buy at Stifel 02/03/23 Immunovant reports Q3 EPS (49c), consensus (39c) 11/04/22 Immunovant reports Q2 EPS (41c), consensus (39c)
