These Analysts Increase Their Forecasts On Immunovant After Q4 Results

Benzinga Earnings
05/22

Immunovant Inc (NASDAQ:IMVT) on Wednesday posted a wider fourth‑quarter loss than analysts expected.

The company reported a quarterly loss of 73 cents per share, falling short of the 60 cents consensus estimate.

Research and development spending rose to $142.3 million for the quarter, driven by IMVT‑1402 trial activity and $39 million in costs tied to discontinuing batoclimab. Non‑GAAP R&D expenses for the full fiscal year reached $426.9 million, up from $333.9 million the prior year.

Immunovant shares fell 5% to trade at $33.76 on Thursday.

These analysts made changes to their price targets on Immunovant following earnings announcement.

  • HC Wainwright & Co. analyst Douglas Tsao maintained Immunovant with a Buy and raised the price target from $35 to $40.
  • B of A Securities analyst Jason Gerberry maintained the stock with a Buy and raised the price target from $32 to $43.

Considering buying IMVT stock? Here’s what analysts think:

Photo via Shutterstock

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