10 Promising Stocks to Buy Under $50

7. Immunovant Inc. (NASDAQ:IMVT)

Share Price as of January 9: $26.49

Average Upside Potential as of January 9: 69.94%

Number of Hedge Fund Holders: 40

Immunovant Inc. (NASDAQ:IMVT) is one of the promising stocks to buy under $50. On January 8, Truist analyst Danielle Brill raised the firm’s price target on Immunovant to $22 from $16, while maintaining a Hold rating on the shares. While the firm updated its financial model, Truist informed investors that its core fundamental outlook remains unchanged from 2025.

On January 6, Wolfe Research upgraded Immunovant from Peer Perform to Outperform with a $50 price target and noted a shift in market sentiment regarding Graves’ disease. While the firm previously expected a valuation re-rating to take years, Argenx’s entry into the Graves’ market established a higher valuation floor by increasing investor appreciation for the space. Wolfe Research highlighted the shrinking short float as a sign of growing market confidence.

Guggenheim analyst Yatin Suneja maintained a Buy rating on Immunovant Inc. (NASDAQ:IMVT) earlier on December 18 but lowered the price target to $41 from $44. This adjustment followed the company’s then-recent $550 million equity offering, which the firm noted will lead to a higher share count and some stock dilution. However, Guggenheim pointed out that this is balanced by a strengthened balance sheet and an extended cash runway, supporting the company’s continued development.

Immunovant Inc. (NASDAQ:IMVT) is a clinical-stage immunology company, develops monoclonal antibodies for the treatment of autoimmune diseases.