FY2031 EPS Estimate for Immunovant Decreased by Analyst

Key Points

• HC Wainwright lowered Immunovant’s FY2031 EPS estimate to $3.80 from $4.13, while maintaining a Buy rating and a $40 price target.
• Immunovant reported quarterly EPS of -$0.75, missing the consensus estimate of -$0.63, while revenue of $7.09 million matched expectations.
• Analyst sentiment remains broadly positive, with six Buy ratings, three Holds and one Sell; the consensus price target is $44.00. Shares recently traded at $41.82, near their 52-week high.

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Investment analysts at HC Wainwright decreased their FY2031 earnings per share (EPS) estimates for shares of Immunovant in a report issued on Friday, August 7th. HC Wainwright analyst D. Tsao now expects that the company will earn $3.80 per share for the year, down from their prior forecast of $4.13. HC Wainwright currently has a "Buy" rating and a $40.00 target price on the stock. The consensus estimate for Immunovant's current full-year earnings is ($2.72) per share.

Immunovant (NASDAQ:IMVT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.12). The company had revenue of $7.09 million for the quarter, compared to analyst estimates of $7.09 million. During the same period in the prior year, the company posted ($0.71) EPS.

Other equities research analysts have also issued research reports about the stock. Truist Financial lifted their target price on shares of Immunovant from $23.00 to $30.00 and gave the company a "hold" rating in a research note on Friday, May 22nd. Citigroup upped their price target on shares of Immunovant from $57.00 to $61.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their price objective on Immunovant from $47.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Bank of America lifted their price objective on Immunovant from $32.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein upgraded Immunovant to a "hold" rating in a research note on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Immunovant has an average rating of "Moderate Buy" and a consensus price target of $44.00.

Immunovant Stock Performance

Immunovant stock opened at $41.82 on Monday. The firm has a market cap of $8.64 billion, a PE ratio of -14.83 and a beta of 0.77. The firm's 50 day moving average price is $38.19 and its two-hundred day moving average price is $31.15. Immunovant has a twelve month low of $14.47 and a twelve month high of $42.92.

Insider Activity

In other news, CTO Jay S. Stout sold 40,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $38.31, for a total transaction of $1,532,400.00. Following the transaction, the chief technology officer owned 211,685 shares in the company, valued at $8,109,652.35. This represents a 15.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tuyl Christopher Van sold 17,824 shares of the firm's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $38.31, for a total transaction of $682,837.44. Following the transaction, the insider owned 180,597 shares in the company, valued at $6,918,671.07. This represents a 8.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 324,810 shares of company stock valued at $11,350,166. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunovant

Several institutional investors and hedge funds have recently modified their holdings of IMVT. Geneos Wealth Management Inc. acquired a new position in Immunovant during the fourth quarter worth $25,000. Strs Ohio bought a new position in Immunovant during the first quarter valued at about $27,000. PNC Financial Services Group Inc. lifted its position in shares of Immunovant by 138.9% in the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company's stock worth $46,000 after buying an additional 1,646 shares during the last quarter. Quarry LP lifted its position in shares of Immunovant by 94.9% in the fourth quarter. Quarry LP now owns 3,000 shares of the company's stock worth $76,000 after buying an additional 1,461 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Immunovant during the 2nd quarter worth about $87,000. Institutional investors and hedge funds own 47.08% of the company's stock.

About Immunovant

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant's approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company's lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.

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