Truist initiated coverage of Immunovant (IMVT) with a Hold rating and $16 price target IMVT1402 appears to drive deeper IgG reductions than other FcRn inhibitors, but the firm thinks 1402 is too far behind in certain indications to gain meaningful traction in the market, the analyst tells investors. While aligned with the strategy of pursuing indications where 1402 would be first in class, the firm also notes that “meaningful de-risking” for these is not expected until 2027.
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