FY2030 EPS Estimates for Immunovant Raised by HC Wainwright

Immunovant, Inc. (NASDAQ:IMVT) – Investment analysts at HC Wainwright upped their FY2030 EPS estimates for Immunovant in a research report issued to clients and investors on Tuesday, February 10th. HC Wainwright analyst D. Tsao now anticipates that the company will earn $2.91 per share for the year, up from their previous estimate of $2.84. HC Wainwright has a “Buy” rating and a $35.00 price objective on the stock. The consensus estimate for Immunovant’s current full-year earnings is ($2.69) per share.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Friday, February 6th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.11. During the same quarter in the prior year, the company posted ($0.76) earnings per share.

IMVT has been the subject of a number of other reports. Wolfe Research raised Immunovant from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 6th. The Goldman Sachs Group increased their price target on Immunovant from $18.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. Guggenheim lifted their price objective on shares of Immunovant from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunovant in a research report on Friday, January 9th. Finally, Truist Financial raised their target price on shares of Immunovant from $16.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Immunovant presently has an average rating of “Moderate Buy” and an average price target of $31.11.

Immunovant Stock Performance

Immunovant stock opened at $25.64 on Thursday. The stock has a 50-day simple moving average of $25.92 and a 200 day simple moving average of $20.99. The stock has a market capitalization of $5.22 billion, a P/E ratio of -9.53 and a beta of 0.54. Immunovant has a 52 week low of $12.72 and a 52 week high of $27.92.

Insider Buying and Selling

In related news, COO Melanie Gloria sold 12,626 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $23.62, for a total value of $298,226.12. Following the completion of the sale, the chief operating officer directly owned 173,511 shares in the company, valued at approximately $4,098,329.82. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tuyl Christopher Van sold 10,813 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $26.91, for a total value of $290,977.83. Following the sale, the insider directly owned 149,930 shares in the company, valued at $4,034,616.30. This represents a 6.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 63,868 shares of company stock valued at $1,538,470 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. acquired a new stake in Immunovant during the fourth quarter worth about $25,000. Strs Ohio acquired a new stake in shares of Immunovant during the 1st quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new position in Immunovant in the third quarter valued at approximately $33,000. PNC Financial Services Group Inc. raised its position in Immunovant by 138.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,831 shares of the company’s stock valued at $46,000 after purchasing an additional 1,646 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Immunovant by 228.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,140 shares of the company’s stock valued at $98,000 after purchasing an additional 4,273 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Immunovant Company Profile

Immunovant Inc is a clinical-stage biopharmaceutical company focused on the development of novel monoclonal antibody therapies that target the neonatal Fc receptor (FcRn) to treat severe autoimmune diseases. By inhibiting FcRn, Immunovant’s approach is designed to reduce levels of pathogenic immunoglobulin G (IgG) antibodies, which play a central role in the pathology of disorders such as myasthenia gravis and immune thrombocytopenia.

The company’s lead asset, efgartigimod, is an engineered Fc fragment that selectively binds to FcRn, accelerating the degradation of circulating IgG.