Immunovant price target lowered to $45 from $47 at Wells Fargo

Wells Fargo analyst Derek Archila lowered the firm’s price target on Immunovant (IMVT) to $45 from $47 and keeps an Overweight rating on the shares. The firm adjusted price targets in the Smid-cap biotechnology group as part of its 2025 outlook. Wells top sector picks target Ascendis Pharma (ASND), aTyr Pharma (ATYR), Rhythm Pharmaceuticals (RYTM), and Xencor (XNCR).