Sam Slutsky, an analyst from LifeSci Capital, maintained the Buy rating on Immunovant (IMVT – Research Report). The associated price target remains the same with $50.00.
Sam Slutsky has given his Buy rating due to a combination of factors that highlight Immunovant’s competitive positioning and potential for growth. One of the primary reasons is the expected approval of Immunovant’s IMVT-1402 for self-administration, which would offer a significant advantage over competitors like UCB’s Rystiggo and JNJ’s nipocalimab, both of which require healthcare provider administration. This ease of use could enhance patient compliance and market adoption.
Additionally, Immunovant’s recent studies have demonstrated a correlation between IgG reduction and efficacy in treating generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP) with their first-generation anti-FcRn therapy, batoclimab. The results showed that the lower dose of batoclimab achieved IgG reduction comparable to argenx’s Vyvgart, with higher doses achieving even greater reductions. These promising results, combined with a solid financial position, support Slutsky’s optimistic outlook on Immunovant’s stock.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMVT in relation to earlier this year.