LifeSci Capital Maintains a Buy on Immunovant (IMVT) With a $50 PT

Immunovant, Inc. (NASDAQ:IMVT) is one of the 13 Best Pharma Stocks to Buy According to Wall Street Analysts. On June 26, Sam Slutsky, an analyst from LifeSci Capital, maintained a Buy rating on Immunovant, Inc. (NASDAQ:IMVT), keeping the associated price target at $50. He based the rating on the notable market opportunity for the company’s IMVT-1402 for the treatment of Graves’ disease, which is a leading cause of hyperthyroidism and has considerable unmet medical need.

A closeup of a scientist working with a microscope in a biotech laboratory.

The disease impacts around a million patients in the US, and current treatments typically render a majority of patients uncontrolled or intolerant. Since alternative therapies for the disease also have considerable drawbacks, the analyst reasoned that IMVT-1402 has potential as a novel, disease-modifying therapy. It reduces pathogenic IgG autoantibodies to target the disease’s root cause, and positive proof-of-concept data from a first-generation anti-FcRn supports the therapy’s efficacy.

The analyst further reasoned that feedback from key opinion leaders highlights the significant need and demand for such targeted treatments, painting a positive picture for Immunovant, Inc. (NASDAQ:IMVT). Apart from IMVT-1402’s dual effects in Graves’ disease and thyroid eye disease, the company’s ongoing trials further support the optimistic rating.

Immunovant, Inc. (NASDAQ:IMVT) develops treatments for autoimmune diseases. Its product pipeline includes batoclimab and IMVT-1402. Both are novel antibodies targeting the neonatal fragment crystallizable receptor (FcRn).

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