Brokers Issue Forecasts for Immunovant FY2027 Earnings

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Stock analysts at Cantor Fitzgerald issued their FY2027 earnings per share (EPS) estimates for shares of Immunovant in a note issued to investors on Monday, June 9th. Cantor Fitzgerald analyst P. Agrawal forecasts that the company will earn ($3.26) per share for the year. Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for Immunovant's current full-year earnings is ($2.69) per share.

Several other research firms also recently weighed in on IMVT. Jefferies Financial Group started coverage on Immunovant in a research report on Monday, March 3rd. They issued a "hold" rating and a $20.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $51.00 target price on shares of Immunovant in a report on Wednesday, March 19th. UBS Group reiterated a "neutral" rating and set a $17.00 price target (down from $38.00) on shares of Immunovant in a research note on Tuesday, April 22nd. Bank of America decreased their price objective on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.33.

Immunovant Stock Performance

Shares of IMVT traded up $0.45 during midday trading on Tuesday, hitting $16.74. 1,540,421 shares of the stock were exchanged, compared to its average volume of 1,204,671. Immunovant has a 52-week low of $12.72 and a 52-week high of $34.47. The stock has a fifty day simple moving average of $14.82 and a 200 day simple moving average of $19.95. The firm has a market cap of $2.86 billion, a P/E ratio of -6.39 and a beta of 0.61.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.08. The company had revenue of $0.16 million during the quarter. During the same period in the previous year, the business earned ($0.52) EPS.

Hedge Funds Weigh In On Immunovant

Hedge funds and other institutional investors have recently modified their holdings of the company. Baker BROS. Advisors LP raised its holdings in Immunovant by 219.6% in the first quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company's stock valued at $93,275,000 after buying an additional 3,750,000 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Immunovant by 53.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,117,234 shares of the company's stock worth $126,754,000 after buying an additional 1,786,217 shares during the period. Deep Track Capital LP increased its position in shares of Immunovant by 38.0% in the fourth quarter. Deep Track Capital LP now owns 6,000,000 shares of the company's stock worth $148,620,000 after acquiring an additional 1,652,536 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Immunovant by 405.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,338 shares of the company's stock worth $28,568,000 after acquiring an additional 925,081 shares in the last quarter. Finally, Woodline Partners LP raised its stake in shares of Immunovant by 133.0% in the 1st quarter. Woodline Partners LP now owns 1,497,869 shares of the company's stock valued at $25,599,000 after acquiring an additional 855,143 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Immunovant

In related news, CEO Peter Salzmann sold 8,321 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total value of $123,899.69. Following the sale, the chief executive officer now directly owns 1,178,191 shares of the company's stock, valued at approximately $17,543,263.99. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eva Renee Barnett sold 2,993 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $44,565.77. Following the sale, the chief financial officer now directly owns 396,774 shares of the company's stock, valued at $5,907,964.86. This represents a 0.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,682 shares of company stock worth $596,619. 5.90% of the stock is owned by corporate insiders.

About Immunovant

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.