Stifel analyst Alex Thompson raised the firm’s price target on Immunovant (IMVT) to $61 from $58 and keeps a Buy rating on the shares following yesterday’s topline data from the Batoclimab Myasthtenia Gravis and chronic inflammatory demyelinating polyneuropathy studies. The firm believes both studies support its thesis that IMVT-1402 is a highly-derisked asset within the growing/strategically-important fragment crystallizable receptor space. Bottom line, Stifel added that it updated its Immunovant model to reflect IMVT-1402 as the lead in MG/CIDP, removing marginal risk-adjusted near team revenue for Batoclimab.
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Read More on IMVT:
- Immunovant price target lowered to $33 from $38 at BofA
- Immunovant data positive for Biohaven, says Deutsche Bank
- Immunovant’s Promising Clinical Trial Results and Market Dynamics Drive Buy Rating
- Immunovant’s Batoclimab Shows Promising Efficacy in MG and CIDP, Justifying Buy Rating
- Immunovant’s batoclimab shows ‘impressive’ efficacy in MG, says H.C. Wainwright
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