Sam Slutsky, an analyst from LifeSci Capital, maintained the Buy rating on Immunovant. 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 Immunovant’s strong pipeline execution and promising clinical progress. The company is actively advancing multiple late-stage programs with their next-generation subcutaneous FcRn inhibitor, IMVT-1402, targeting six different indications. These include ongoing potentially registrational trials for conditions such as myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, and Graves’ Disease, among others.
Furthermore, Immunovant is poised to present additional data at the upcoming American Thyroid Association meeting, which could provide further validation of their therapeutic approach. The anticipated release of top-line results from batoclimab’s pivotal program in thyroid eye disease later in the year also presents a significant potential catalyst. Collectively, these developments underscore the company’s strategic positioning and potential for market impact, justifying the Buy rating.
In another report released today, Citi also maintained a Buy rating on the stock with a $57.00 price target.
Based on the recent corporate insider activity of 60 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.