Immunovant price target raised to $29 from $27 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Immunovant (IMVT) to $29 from $27 and keeps a Buy rating on the shares. The analyst says the results from Argenx’s (ARGX) trial for efgartigimod “provide important validation” of the hypothesis that IgG antibodies play a significant role in the underlying biology of the disease. The firm views the data as de-risking the clinical development of Immunovant’s anti-FcRn for this indication.