Immunovant (NASDAQ:IMVT) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Key Points

• Immunovant reported a quarterly EPS loss of $0.75, missing analyst estimates by $0.12, while revenue of $7.09 million matched expectations.
• Management said the potential late-September launch of brexpiprazole for dermatomyositis remains on track, alongside progress in several phase III and proof-of-concept programs with key data expected in the second half of 2026.
• Roivant received approximately $950 million from its Moderna settlement; management also highlighted nearly $4 billion in cash before the proceeds and continued share repurchases, while analysts maintain a “Moderate Buy” consensus with an average $44 price target.

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

Here are the key takeaways from Immunovant's conference call:

• Brexpiprazole’s potential dermatomyositis launch remains on track for late September following priority review, with commercial and patient-support teams in place. Management emphasized a “slow and steady” rollout focused on building access and a broader multi-indication franchise rather than maximizing early sales.
• Roivant has begun enrolling the phase III cutaneous sarcoidosis study after strong phase II results, while the lichen planus program is also enrolling well. Top-line readouts are expected in the second half of 2026 for brexpocitinib in non-infectious uveitis and povorcitinib in PH-ILD, with additional proof-of-concept data in cutaneous lupus.
• Roivant received approximately $950 million from its Moderna settlement, including roughly $772 million attributable to Genevant and Arbutus. Additional potential proceeds include about $1.3 billion from the ongoing ’498 appeal and further litigation against Pfizer and BioNTech.
• The company reported nearly $4 billion in cash before the settlement proceeds and repurchased approximately $200 million of shares during the quarter. Management said buybacks will continue under existing authorizations, citing attractive share-retirement economics.
• Management highlighted substantial execution and clinical risk in the upcoming catalysts: PH-ILD’s key question is whether povorcitinib’s pulmonary vascular effects translate from PAH, while placebo-response variability remains a concern for the NIU study. Roivant expects to provide a fuller update on difficult-to-treat rheumatoid arthritis after randomized-withdrawal data and an FDA discussion later this year.

Immunovant Trading Up 0.5%

NASDAQ IMVT traded up $0.21 during trading on Friday, hitting $39.95. The company had a trading volume of 906,196 shares, compared to its average volume of 922,481. The company's fifty day moving average is $37.23 and its 200-day moving average is $30.59. Immunovant has a one year low of $14.32 and a one year high of $41.23. The company has a market cap of $8.25 billion, a price-to-earnings ratio of -14.17 and a beta of 0.77.

Insider Activity

In other Immunovant news, insider Tuyl Christopher Van sold 1,206 shares of Immunovant stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total transaction of $47,697.30. Following the sale, the insider directly owned 179,391 shares of the company's stock, valued at approximately $7,094,914.05. The trade was a 0.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Melanie Gloria sold 2,036 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $39.55, for a total value of $80,523.80. Following the transaction, the chief operating officer owned 222,357 shares in the company, valued at $8,794,219.35. This trade represents a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 324,810 shares of company stock worth $11,350,166. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunovant

Several hedge funds have recently made changes to their positions in IMVT. RTW Investments LP bought a new stake in Immunovant during the fourth quarter worth about $80,781,000. Morgan Stanley grew its holdings in Immunovant by 147.4% in the fourth quarter. Morgan Stanley now owns 4,846,385 shares of the company's stock worth $123,195,000 after purchasing an additional 2,887,359 shares during the period. ADAR1 Capital Management LLC increased its stake in shares of Immunovant by 319.0% during the third quarter. ADAR1 Capital Management LLC now owns 2,241,753 shares of the company's stock valued at $36,137,000 after purchasing an additional 1,706,687 shares in the last quarter. Logos Global Management LP increased its stake in shares of Immunovant by 400.0% during the fourth quarter. Logos Global Management LP now owns 1,375,000 shares of the company's stock valued at $34,952,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Immunovant by 30.9% during the fourth quarter. State Street Corp now owns 3,786,926 shares of the company's stock valued at $96,264,000 after purchasing an additional 894,308 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IMVT shares. Guggenheim boosted their price objective on shares of Immunovant from $44.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Truist Financial increased their target price on shares of Immunovant from $23.00 to $30.00 and gave the stock a "hold" rating in a report on Friday, May 22nd. The Goldman Sachs Group raised their target price on Immunovant from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price target on Immunovant from $47.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, HC Wainwright upped their price target on Immunovant from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Immunovant currently has a consensus rating of "Moderate Buy" and an average target price of $44.00.

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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