Brokers Offer Predictions for Immunovant FY2028 Earnings

Immunovant, Inc. (NASDAQ:IMVT - Free Report) - Research analysts at Zacks Research issued their FY2028 earnings estimates for shares of Immunovant in a research report issued on Wednesday, June 18th. Zacks Research analyst E. Bagri anticipates 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 released its quarterly 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 quarter in the prior year, the company posted ($0.52) earnings per share.

IMVT has been the topic of several other reports. Guggenheim reaffirmed a "buy" rating on shares of Immunovant in a report on Thursday, March 20th. UBS Group reaffirmed a "neutral" rating and set a $17.00 target price (down from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Cantor Fitzgerald raised shares of Immunovant to a "strong-buy" rating in a report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Immunovant in a report on Wednesday, March 19th. Finally, Bank of America lowered their target price on shares of Immunovant from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Immunovant Stock Up 4.1%

Shares of IMVT traded up $0.64 during mid-day trading on Monday, hitting $16.39. 957,615 shares of the company's stock were exchanged, compared to its average volume of 1,212,220. Immunovant has a 52 week low of $12.72 and a 52 week high of $34.47. The stock's 50-day simple moving average is $15.10 and its 200-day simple moving average is $19.04. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -5.98 and a beta of 0.61.

Institutional Trading of Immunovant

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Immunovant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,679,414 shares of the company's stock valued at $165,449,000 after buying an additional 20,614 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Immunovant by 50.4% during the fourth quarter. Bank of America Corp DE now owns 341,535 shares of the company's stock valued at $8,460,000 after acquiring an additional 114,511 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Immunovant by 1.5% during the fourth quarter. Rhumbline Advisers now owns 80,932 shares of the company's stock valued at $2,005,000 after acquiring an additional 1,188 shares during the last quarter. Sei Investments Co. raised its stake in shares of Immunovant by 4.0% during the fourth quarter. Sei Investments Co. now owns 40,456 shares of the company's stock valued at $1,002,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Immunovant by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 28,063 shares of the company's stock valued at $695,000 after acquiring an additional 9,349 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

Insider Buying and Selling

In other Immunovant news, CFO Eva Renee Barnett sold 2,993 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 $44,565.77. Following the sale, the chief financial officer now owns 396,774 shares in the company, valued at $5,907,964.86. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter Salzmann sold 28,094 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the sale, the chief executive officer now owns 1,186,512 shares in the company, valued at $15,412,790.88. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,682 shares of company stock worth $596,619. Corporate insiders own 5.90% of the company's stock.

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.