Douglas Tsao, an analyst from H.C. Wainwright, reiterated the Buy rating on Roivant Sciences (ROIV – Research Report). The associated price target remains the same with $18.00.
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Douglas Tsao has given his Buy rating due to a combination of factors related to Roivant Sciences’ strategic advancements and promising opportunities. One key factor is Roivant’s increased stake in Immunovant, indicating confidence in the potential of their lead asset, IMVT-1402. This drug is set to undergo significant trials in myasthenia gravis and chronic inflammatory demyelinating polyneuropathy, which could clarify its efficacy and market potential as an FcRn inhibitor.
Furthermore, Roivant’s efforts to broaden the application of brepocitinib in treating orphan inflammatory diseases, particularly in cutaneous sarcoidosis, highlight a strategic approach to addressing unmet medical needs. The planned Phase 2 POC study, as well as other ongoing trials, underscore Roivant’s commitment to expanding its therapeutic portfolio. These initiatives, combined with the anticipated launch of IMVT-1402 for conditions like Graves’ disease and difficult-to-treat rheumatoid arthritis, present substantial growth prospects that support Tsao’s Buy rating.