Immunovant (NASDAQ:IMVT) Coverage Initiated at HC Wainwright

HC Wainwright initiated coverage on shares of Immunovant (NASDAQ:IMVT) in a research note released on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $34.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. ValuEngine upgraded shares of Immunovant from a hold rating to a buy rating in a report on Thursday, April 2nd. SunTrust Banks upgraded shares of Immunovant to a buy rating in a report on Thursday, June 18th. Zacks Investment Research lowered shares of Immunovant from a buy rating to a hold rating in a report on Tuesday, July 14th. Nomura Instinet upped their price objective on shares of Immunovant from $27.00 to $37.00 and gave the stock a buy rating in a report on Friday, May 29th. Finally, Nomura upped their price objective on shares of Immunovant from $27.00 to $37.00 and gave the stock a buy rating in a report on Friday, May 29th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $29.89.

Immunovant stock opened at $22.61 on Wednesday. The firm has a 50 day simple moving average of $25.26 and a 200-day simple moving average of $19.29. Immunovant has a 1-year low of $8.34 and a 1-year high of $29.96.

Immunovant (NASDAQ:IMVT) last posted its quarterly earnings results on Monday, June 29th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.03. As a group, equities analysts forecast that Immunovant will post -1.4 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in Immunovant by 119.1% during the 1st quarter. UBS Group AG now owns 2,357 shares of the company’s stock worth $37,000 after buying an additional 1,281 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Immunovant in the 1st quarter valued at approximately $45,000. Signaturefd LLC purchased a new stake in shares of Immunovant in the 1st quarter valued at approximately $54,000. Strs Ohio purchased a new stake in shares of Immunovant in the 2nd quarter valued at approximately $119,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Immunovant in the 2nd quarter valued at approximately $254,000. Institutional investors own 19.49% of the company’s stock.

Immunovant Company Profile

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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Analyst Recommendations for Immunovant (NASDAQ:IMVT)

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