Immunovant, Inc. (NASDAQ:IMVT) to Post FY2024 Earnings of ($1.72) Per Share, Zacks Research Forecasts

Immunovant, Inc. (NASDAQ:IMVT) – Research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Immunovant in a research report issued on Thursday, April 25th. Zacks Research analyst E. Bagri now forecasts that the company will earn ($1.72) per share for the year, up from their previous forecast of ($1.73). The consensus estimate for Immunovant’s current full-year earnings is ($1.70) per share. Zacks Research also issued estimates for Immunovant’s Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.51) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.52) EPS, Q4 2025 earnings at ($0.51) EPS, FY2025 earnings at ($2.04) EPS, Q1 2026 earnings at ($0.46) EPS, Q2 2026 earnings at ($0.46) EPS, Q3 2026 earnings at ($0.47) EPS, Q4 2026 earnings at ($0.52) EPS and FY2026 earnings at ($1.91) EPS.

Several other research analysts have also recently weighed in on IMVT. JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a research report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price objective on the stock. Oppenheimer began coverage on shares of Immunovant in a research report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $48.00 target price on shares of Immunovant in a research note on Monday, March 25th. Wolfe Research began coverage on Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunovant has an average rating of “Buy” and a consensus price target of $48.00.

Immunovant Stock Down 2.1 %

Shares of IMVT opened at $27.17 on Monday. The business’s 50-day moving average price is $32.10 and its 200-day moving average price is $35.78. Immunovant has a twelve month low of $15.90 and a twelve month high of $45.58. The stock has a market cap of $3.95 billion, a PE ratio of -14.77 and a beta of 0.65.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, February 12th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.07.

Insiders Place Their Bets

In other Immunovant news, insider Mark S. Levine sold 2,134 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $77,144.10. Following the completion of the transaction, the insider now owns 301,968 shares in the company, valued at $10,916,143.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Immunovant news, insider Michael Geffner sold 3,261 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $28.90, for a total value of $94,242.90. Following the completion of the transaction, the insider now owns 141,616 shares in the company, valued at $4,092,702.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark S. Levine sold 2,134 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $36.15, for a total value of $77,144.10. Following the completion of the transaction, the insider now owns 301,968 shares of the company’s stock, valued at approximately $10,916,143.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,560 shares of company stock worth $2,424,601. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Immunovant

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Immunovant by 47.5% during the third quarter. FMR LLC now owns 7,748,546 shares of the company’s stock valued at $297,467,000 after acquiring an additional 2,494,678 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Immunovant by 14.0% during the third quarter. Vanguard Group Inc. now owns 6,233,146 shares of the company’s stock valued at $239,290,000 after acquiring an additional 764,530 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Immunovant during the fourth quarter valued at $112,356,000. Armistice Capital LLC increased its holdings in shares of Immunovant by 38.6% during the fourth quarter. Armistice Capital LLC now owns 1,436,000 shares of the company’s stock valued at $60,499,000 after acquiring an additional 400,123 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in shares of Immunovant by 6,108.9% during the third quarter. Fred Alger Management LLC now owns 1,186,031 shares of the company’s stock valued at $45,532,000 after acquiring an additional 1,166,929 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.