Jason Gerberry, an analyst from Bank of America Securities, maintained the Buy rating on Immunovant (IMVT – Research Report). The associated price target remains the same with $33.00.
Jason Gerberry has given his Buy rating due to a combination of factors surrounding Immunovant’s strategic developments and potential growth opportunities. The recent leadership changes, with Eric Venker stepping in as CEO and Tiago Girao as CFO, are seen as a move to enhance operational control, although it’s too early to determine their full impact on shareholder value. The company’s focus on FcRn biology remains strong, with plans to explore new indications such as CLE and Sjogren’s, which could unlock significant value if successful.
Additionally, Immunovant’s ongoing studies, particularly the promising early data from the CLE program, suggest potential efficacy of their treatments, although further placebo-controlled data is needed to confirm these findings. The upcoming Phase 3 data for TED in 2025 is another critical milestone, with a 75% probability of success based on previous data. Despite uncertainties in commercializing TED, the strategic openness to partnerships could mitigate risks and enhance market penetration. These factors, combined with a price objective significantly higher than the current stock price, underpin Gerberry’s optimistic outlook on Immunovant.
According to TipRanks, Gerberry is a 3-star analyst with an average return of 0.6% and a 46.44% success rate. Gerberry covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Jazz Pharmaceuticals, and Alkermes.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $50.00 price target.