H.C. Wainwright Believes Immunovant (NASDAQ: IMVT) Won’t Stop Here

By Ryan Adsit

In a report released today, Douglas Tsao from H.C. Wainwright maintained a Buy rating on Immunovant (IMVTResearch Report), with a price target of $54.00. The company’s shares closed last Tuesday at $46.95, close to its 52-week high of $53.75.

According to TipRanks.com, Tsao is a 4-star analyst with an average return of 12.8% and a 54.5% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Crinetics Pharmaceuticals, and Protagonist Therapeutics.

Immunovant has an analyst consensus of Strong Buy, with a price target consensus of $56.89, representing a 21.0% upside. In a report issued on January 4, LifeSci Capital also maintained a Buy rating on the stock with a $58.00 price target.

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Based on Immunovant’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $20.79 million. In comparison, last year the company had a net profit of $125.1K.

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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.