In a report released yesterday, Sam Slutsky from LifeSci Capital maintained a Buy rating on Immunovant (IMVT – Research Report), with a price target of $50.00.
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Sam Slutsky has given his Buy rating due to a combination of factors that highlight Immunovant’s promising potential in the biotechnology sector. The company is advancing its pipeline of subcutaneous FcRn inhibitors, particularly batoclimab and the next-generation IMVT-1402, which are undergoing key clinical trials for conditions like generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP). The upcoming readouts for these trials are crucial as they will demonstrate the efficacy of these treatments and further validate the company’s strategic direction.
Additionally, Immunovant’s focus on IMVT-1402 is significant as it has already cleared multiple investigational new drug applications and is being tested in potentially registrational trials for Graves’ Disease and rheumatoid arthritis. The company’s commitment to initiating several additional programs by 2025 and testing IMVT-1402 across multiple indications by 2026 indicates a robust pipeline with substantial growth potential. These strategic advancements, supported by sufficient financial runway and innovative technology, reinforce the Buy recommendation.
In another report released on January 29, Wells Fargo also reiterated a Buy rating on the stock with a $45.00 price target.
Based on the recent corporate insider activity of 74 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.