Douglas Tsao, an analyst from H.C. Wainwright, reiterated the Buy rating on Immunovant. The associated price target remains the same with $35.00.
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Douglas Tsao has given his Buy rating due to a combination of factors related to Immunovant’s promising developments in treating Graves’ disease. The company is set to release six-month remission data from its Phase 2 proof-of-concept study of batoclimab at the American Thyroid Association Annual meeting in September 2025. This data is significant as it represents the first remission dataset from an FcRn in Graves’ disease, and any level of remission achieved would be a milestone, given the limitations of current treatments.
Furthermore, Immunovant’s initiation of a potential registrational study of IMVT-1402 in Graves’ disease and the anticipated topline results from trials in other indications such as Sjogren’s disease, D2T RA, and MG, underscore the company’s robust pipeline. The effectiveness of their treatments in achieving clinical improvements, such as reducing the need for radioactive iodine and thyroidectomy, enhances the attractiveness of their stock. Additionally, the high interest from clinicians in novel therapies, as evidenced by the attention at the ENDO conference, supports a positive outlook for Immunovant’s future developments.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $50.00 price target.