Zacks Research Comments on Immunovant FY2028 Earnings

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Investment analysts at Zacks Research issued their FY2028 earnings per share estimates for shares of Immunovant in a research note issued to investors on Wednesday, June 18th. Zacks Research analyst E. Bagri expects that the company will earn ($2.81) per share for the year. The consensus estimate for Immunovant's current full-year earnings is ($2.69) per share.

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

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

Immunovant Trading Down 0.4%

NASDAQ:IMVT opened at $15.80 on Monday. The stock's 50-day moving average is $15.07 and its 200-day moving average is $19.18. Immunovant has a 1-year low of $12.72 and a 1-year high of $34.47. The stock has a market cap of $2.70 billion, a P/E ratio of -5.77 and a beta of 0.61.

Insider Activity at Immunovant

In other Immunovant news, CFO Eva Renee Barnett sold 2,993 shares of Immunovant stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total value of $44,565.77. Following the completion of the sale, the chief financial officer now directly owns 396,774 shares in the company, valued at approximately $5,907,964.86. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Salzmann sold 28,094 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total value of $364,941.06. Following the transaction, the chief executive officer now owns 1,186,512 shares in the company, valued at $15,412,790.88. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,682 shares of company stock worth $596,619 over the last quarter. Company insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Immunovant

Large investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in shares of Immunovant during the 1st quarter worth about $27,000. FNY Investment Advisers LLC bought a new position in Immunovant in the first quarter worth approximately $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Immunovant in the first quarter worth approximately $37,000. Headlands Technologies LLC acquired a new stake in Immunovant in the first quarter valued at approximately $51,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Immunovant in the fourth quarter valued at approximately $76,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Immunovant Company Profile

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.

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