Leerink Partners analyst Thomas Smith maintained a Buy rating on Immunovant (IMVT) today and set a price target of $17.00. The company’s shares closed last Tuesday at $9.40, close to its 52-week low of $9.22.
According to TipRanks.com, Smith is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -8.5% and a 32.1% success rate. Smith covers the Healthcare sector, focusing on stocks such as Connect Biopharma Holdings, Madrigal Pharmaceuticals, and Eledon Pharmaceuticals.
Currently, the analyst consensus on Immunovant is a Moderate Buy with an average price target of $21.29, representing an 87.4% upside. In a report released yesterday, Truist Financial also maintained a Buy rating on the stock with a $24.00 price target.
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Based on Immunovant’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $31.78 million. In comparison, last year the company had a GAAP net loss of $11.3 million.
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Immunovant, Inc. is a clinical-stage biopharmaceutical company. It focuses on enabling normal lives for patients with autoimmune diseases. The company was founded in 2018 and is headquartered in New York, NY.