Citi analyst Samantha Semenkow maintained a Buy rating on Immunovant today and set a price target of $57.00.
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Samantha Semenkow’s rating is based on the promising potential of Immunovant’s IMVT-1402, which is advancing well in its clinical development. The drug is involved in six potentially registrational trials for various conditions, including Graves’ disease, D2T-RA, Sjogren’s syndrome, generalized myasthenia gravis (gMG), and chronic inflammatory demyelinating polyneuropathy (CIDP), with a proof-of-concept study for cutaneous lupus erythematosus (CLE). The ongoing enrollment and the expected data readouts in 2026 and 2027 for these trials reinforce the confidence in the drug’s potential.
Samantha also highlights the upcoming presentation at ATA’25, where Immunovant will share remission data from a Phase 2 study for Graves’ disease, which is crucial for evaluating IMVT-1402’s efficacy. Despite a slight decrease in the target price due to higher operational expenses, the expected share price return remains substantial at 268.7%, supporting the Buy rating. The adjustments in the financial model reflect the increased investment in clinical development, which is seen as a positive step towards realizing the drug’s blockbuster potential.