Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on Immunovant and keeping the price target at $50.00.
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Sam Slutsky has given his Buy rating due to a combination of factors related to Immunovant’s promising clinical data and strategic advancements. The recent Phase 2 study results for batoclimab in patients with uncontrolled Graves’ Disease showed that a significant portion of patients maintained normal thyroid function even after treatment cessation, which is an encouraging sign of the drug’s potential efficacy. This outcome suggests that batoclimab could have a disease-modifying effect, offering a potential breakthrough for patients who have not responded well to existing therapies.
Furthermore, Immunovant is advancing two potentially registrational studies with IMVT-1402, a drug with similar pharmacodynamics to batoclimab but improved tolerability. The absence of a dosing step-down in these trials could enhance their clinical success probability. Additionally, the company’s financial position, with a cash runway of approximately two years, supports its ongoing research and development efforts. These factors collectively underpin Slutsky’s optimistic outlook on Immunovant’s future commercial prospects.
Based on the recent corporate insider activity of 55 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.