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 strategic positioning and potential in the market. Immunovant is currently testing IMVT-1402 as a monotherapy in a more refractory population, which might provide a clearer path to demonstrating superiority over placebo, compared to J&J’s combination approach with nipocalimab. The deeper IgG reductions achieved by IMVT-1402 compared to nipocalimab are promising, as such reductions have been linked to improved efficacy in certain diseases.
Additionally, while J&J’s combination therapy did not show significant added benefits, the monotherapy approach with nipocalimab had shown encouraging results, suggesting potential for Immunovant’s similar mechanism. With Immunovant’s upcoming initial RA data expected next year, there is a potential for positive insights into the mechanism of action in late-line settings. These factors, combined with Immunovant’s financial standing and strategic focus, underpin Slutsky’s optimistic outlook on the company’s stock.
In another report released on August 18, Stifel Nicolaus also maintained a Buy rating on the stock with a $50.00 price target.
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.