Cantor Fitzgerald Forecasts Immunovant FY2027 Earnings

Immunovant, Inc. (NASDAQ:IMVT) – Cantor Fitzgerald issued their FY2027 EPS estimates for shares of Immunovant in a research note issued on Monday, June 9th. Cantor Fitzgerald analyst P. Agrawal expects that the company will earn ($3.26) per share for the year. Cantor Fitzgerald has a “Strong-Buy” rating on the stock. The consensus estimate for Immunovant’s current full-year earnings is ($2.69) per share.

Other analysts also recently issued research reports about the stock. Bank of America cut their price objective on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Guggenheim reiterated a “buy” rating on shares of Immunovant in a report on Thursday, March 20th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Wednesday, March 19th. Jefferies Financial Group assumed coverage on shares of Immunovant in a report on Monday, March 3rd. They set a “hold” rating and a $20.00 price target for the company. Finally, UBS Group restated a “neutral” rating and set a $17.00 price target (down previously from $38.00) on shares of Immunovant in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.33.

Immunovant Trading Up 2.8%

IMVT stock opened at $16.74 on Tuesday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -6.39 and a beta of 0.61. Immunovant has a 12 month low of $12.72 and a 12 month high of $34.47. The firm has a 50-day moving average of $14.84 and a two-hundred day moving average of $19.93.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings data on Thursday, May 29th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.08. The business had revenue of $0.16 million during the quarter. During the same period last year, the firm posted ($0.52) EPS.

Insider Transactions at Immunovant

In related news, CEO Peter Salzmann sold 8,321 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total transaction of $123,899.69. Following the completion of the transaction, the chief executive officer now owns 1,178,191 shares of the company’s stock, valued at approximately $17,543,263.99. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eva Renee Barnett sold 2,993 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $14.89, for a total transaction of $44,565.77. Following the transaction, the chief financial officer now directly owns 396,774 shares of the company’s stock, valued at $5,907,964.86. The trade was a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,682 shares of company stock worth $596,619 in the last 90 days. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Immunovant

A number of hedge funds have recently made changes to their positions in IMVT. FMR LLC boosted its position in Immunovant by 4.5% in the 4th quarter. FMR LLC now owns 13,097,915 shares of the company’s stock valued at $324,435,000 after buying an additional 560,344 shares during the period. Vanguard Group Inc. boosted its position in Immunovant by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,936,859 shares of the company’s stock valued at $118,551,000 after buying an additional 257,445 shares during the period. Deep Track Capital LP boosted its position in Immunovant by 38.0% in the 4th quarter. Deep Track Capital LP now owns 6,000,000 shares of the company’s stock valued at $148,620,000 after buying an additional 1,652,536 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Immunovant by 15.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,894,824 shares of the company’s stock valued at $100,743,000 after buying an additional 777,590 shares during the period. Finally, Baker BROS. Advisors LP boosted its position in Immunovant by 219.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,457,881 shares of the company’s stock valued at $93,275,000 after buying an additional 3,750,000 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

About Immunovant

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.