Leerink Partners analyst Thomas Smith maintained a Buy rating on Immunovant (IMVT – Research Report) yesterday and set a price target of $52.00.
Thomas Smith has given his Buy rating due to a combination of factors surrounding Immunovant’s promising pipeline and strategic focus. The company is on the brink of significant data readouts for its anti-FcRn antibody batoclimab in treating myasthenia gravis and chronic inflammatory demyelinating polyneuropathy, expected in the first quarter of 2025. These data points are anticipated to demonstrate efficacy comparable to existing biologics, with a potential for superior clinical outcomes at higher doses.
Additionally, Immunovant is strategically positioning its next-generation FcRn agent, IMVT-1402, for longer-term opportunities in treating conditions such as Graves’ disease and difficult-to-treat rheumatoid arthritis. The company’s commitment to advancing its clinical programs, coupled with strong physician interest and unmet needs in these therapeutic areas, further supports the positive outlook and Buy recommendation.
According to TipRanks, Smith is a top 100 analyst with an average return of 35.9% and a 48.97% success rate. Smith covers the Healthcare sector, focusing on stocks such as Cartesian Therapeutics, Viridian Therapeutics, and Argenx Se.
In another report released on February 25, Piper Sandler also maintained a Buy rating on the stock with a $57.00 price target.