Immunovant price target raised to $47 from $29 at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao raised the firm’s price target on Immunovant to $47 from $29 and keeps a Buy rating on the shares. The analyst says IMVT-1402 data showed potentially best-in-class IgG lowering without albumin and LDL impacts. Immunovant is now positioned to emerge as one of the leaders in the FcRn space, the analyst tells investors in a research note. The firm thinks aIMVT-1402 could establish leadership in indications in which it has first-mover advantage such as graves disease.