BofA lowered the firm’s price target on Immunovant (IMVT) to $33 from $38 and keeps a Buy rating on the shares after yesterday’s topline data update for batoclimab in myasthenia gravis and chronic inflammatory demyelinating polyneuropathy. The firm’s price target reduction is driven by a lower peak sales estimate for the company’s FcRn program in the MG indication, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IMVT:
- 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
- Immunovant Announces Positive Phase 3 Study Results
Questions or Comments about the article? Write to editor@tipranks.com