Immunovant, Inc. (NASDAQ:IMVT) – Equities researchers at Truist Securiti issued their Q3 2022 EPS estimates for shares of Immunovant in a note issued to investors on Monday, November 22nd. Truist Securiti analyst R. Karnauskas forecasts that the company will earn ($0.34) per share for the quarter. Truist Securiti also issued estimates for Immunovant’s Q4 2022 earnings at ($0.36) EPS, FY2022 earnings at ($1.52) EPS, FY2023 earnings at ($1.72) EPS, FY2024 earnings at ($1.54) EPS, FY2025 earnings at ($1.34) EPS and FY2026 earnings at ($0.57) EPS.
A number of other research firms also recently weighed in on IMVT. Robert W. Baird downgraded Immunovant from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $10.00 in a research report on Tuesday, August 3rd. HC Wainwright decreased their target price on Immunovant from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 8th. Chardan Capital decreased their price objective on Immunovant from $55.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 13th. Credit Suisse Group downgraded Immunovant from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $12.00 to $7.00 in a report on Monday, August 2nd. Finally, Truist decreased their price objective on Immunovant from $24.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, October 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.22.
Immunovant (NASDAQ:IMVT) last released its earnings results on Friday, November 5th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09).
Hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Immunovant in the 2nd quarter worth approximately $2,490,000. ProShare Advisors LLC raised its position in shares of Immunovant by 15.9% during the 2nd quarter. ProShare Advisors LLC now owns 27,335 shares of the company’s stock valued at $289,000 after acquiring an additional 3,758 shares during the last quarter. Jump Financial LLC raised its position in shares of Immunovant by 516.2% during the 2nd quarter. Jump Financial LLC now owns 139,035 shares of the company’s stock valued at $1,470,000 after acquiring an additional 116,471 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Immunovant by 1,132.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 132,741 shares of the company’s stock valued at $2,129,000 after acquiring an additional 121,968 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Immunovant by 53.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 13,967 shares of the company’s stock valued at $148,000 after acquiring an additional 4,875 shares during the last quarter. Hedge funds and other institutional investors own 97.03% 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 IMVT-1401, a novel fully human monoclonal antibody that selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phase IIa clinical trials for the treatment of myasthenia gravis and thyroid eye disease, as well as has completed initiation of Phase II clinical trials for the treatment of warm autoimmune hemolytic anemia.
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