Immunovant (NASDAQ:IMVT) Releases Earnings Results

Immunovant (NASDAQ:IMVT) posted its earnings results on Monday. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03, MarketWatch Earnings reports.

Shares of IMVT opened at $25.45 on Tuesday. The firm’s fifty day moving average price is $24.02. Immunovant has a 12 month low of $8.34 and a 12 month high of $29.96.

A number of analysts have weighed in on the stock. SunTrust Banks raised shares of Immunovant to a “buy” rating in a research note on Thursday, June 18th. Nomura Securities reaffirmed a “buy” rating and set a $27.00 target price on shares of Immunovant in a research note on Wednesday, March 4th. Nomura boosted their target price on shares of Immunovant from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Zacks Investment Research raised shares of Immunovant from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, May 26th. Finally, Nomura Instinet boosted their target price on shares of Immunovant from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Nine investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $29.38.

About Immunovant

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody for the treatment of autoimmune diseases. It develops IMVT-1401, a novel fully human monoclonal antibody targeting the neonatal Fc receptor, which is in phase II clinical trial for the treatment of myasthenia gravis and graves' ophthalmopathy.

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