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.
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Sam Slutsky has given his Buy rating due to a combination of factors including the significant market opportunity for Immunovant’s IMVT-1402 in treating Graves’ disease. Graves’ disease is a leading cause of hyperthyroidism with a substantial unmet medical need, affecting nearly a million patients in the US. Current treatments often leave a significant portion of patients uncontrolled or intolerant, and alternative therapies have notable drawbacks.
Slutsky highlights the potential of IMVT-1402 as a novel, disease-modifying therapy that targets the root cause of the disease by reducing pathogenic IgG autoantibodies. Positive proof-of-concept data from a first-generation anti-FcRn supports its efficacy, and feedback from key opinion leaders underscores the demand for such targeted treatments. Additionally, patient social media posts emphasize the physical and emotional burden of the disease, reinforcing the urgency for new therapies. Immunovant’s ongoing trials and the potential dual effect of IMVT-1402 in both Graves’ disease and thyroid eye disease further support the Buy rating.
Slutsky covers the Healthcare sector, focusing on stocks such as Immunovant, Abivax SA Sponsored ADR, and Celldex. According to TipRanks, Slutsky has an average return of -5.3% and a 35.64% success rate on recommended stocks.
In another report released on June 13, J.P. Morgan also maintained a Buy rating on the stock with a $40.00 price target.