Douglas Tsao, an analyst from H.C. Wainwright, reiterated the Buy rating on Immunovant (IMVT – Research Report). The associated price target remains the same with $51.00.
Douglas Tsao has given his Buy rating due to a combination of factors including the promising efficacy results of Immunovant’s batoclimab in treating Myasthenia Gravis (MG) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). The drug demonstrated notable absolute improvements in MG, particularly in the high-dose group, where it showed superior results compared to some competitors. The durable MSE responder rate was also impressive, indicating a significant proportion of patients maintained meaningful symptom improvement over time.
Additionally, the early super responder rates suggest that batoclimab can rapidly alleviate symptoms in MG patients. The initial positive results in CIDP further support the potential of Immunovant’s treatments. Although the company is shifting its focus to developing IMVT-1402, the encouraging data from batoclimab trials underpin Tsao’s optimistic outlook on Immunovant’s stock, justifying the Buy rating.
According to TipRanks, Tsao is a 5-star analyst with an average return of 9.9% and a 39.15% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Neumora Therapeutics, Inc., and Apellis Pharmaceuticals.
In another report released on March 17, Leerink Partners also maintained a Buy rating on the stock with a $52.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com