Immunovant, Inc. (NASDAQ:IMVT) Forecasted to Post FY2027 Earnings of ($1.84) Per Share

Immunovant, Inc. (NASDAQ:IMVT) – Zacks Research issued their FY2027 earnings estimates for shares of Immunovant in a research report issued to clients and investors on Monday, June 17th. Zacks Research analyst E. Bagri expects that the company will earn ($1.84) per share for the year. The consensus estimate for Immunovant’s current full-year earnings is ($2.10) per share.

IMVT has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Immunovant in a report on Thursday, May 30th. JPMorgan Chase & Co. assumed coverage on shares of Immunovant in a research report on Tuesday, February 20th. They set an “overweight” rating and a $51.00 price objective for the company. Oppenheimer dropped their price objective on shares of Immunovant from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. The Goldman Sachs Group started coverage on Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immunovant in a research report on Tuesday. Seventeen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Immunovant has a consensus rating of “Buy” and an average price target of $48.75.

Immunovant Trading Down 2.3 %

Shares of NASDAQ IMVT opened at $26.19 on Wednesday. Immunovant has a twelve month low of $18.16 and a twelve month high of $45.58. The business has a 50 day simple moving average of $28.31 and a 200-day simple moving average of $34.07.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.08). During the same quarter in the previous year, the business posted ($0.46) earnings per share.

Institutional Investors Weigh In On Immunovant

Several hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in Immunovant by 47.5% during the 3rd quarter. FMR LLC now owns 7,748,546 shares of the company’s stock worth $297,467,000 after purchasing an additional 2,494,678 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Immunovant by 11.2% during the first quarter. Vanguard Group Inc. now owns 6,478,304 shares of the company’s stock valued at $209,314,000 after buying an additional 650,506 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Immunovant during the fourth quarter valued at $112,356,000. Alpine Global Management LLC raised its position in Immunovant by 34.6% during the first quarter. Alpine Global Management LLC now owns 1,882,704 shares of the company’s stock valued at $60,830,000 after buying an additional 484,332 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Immunovant by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,862,043 shares of the company’s stock worth $60,163,000 after acquiring an additional 259,481 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Immunovant news, insider Julia G. Butchko sold 3,247 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $29.65, for a total transaction of $96,273.55. Following the completion of the transaction, the insider now directly owns 448,380 shares of the company’s stock, valued at approximately $13,294,467. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Julia G. Butchko sold 3,247 shares of Immunovant stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $29.65, for a total value of $96,273.55. Following the transaction, the insider now owns 448,380 shares of the company’s stock, valued at approximately $13,294,467. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julia G. Butchko sold 1,053 shares of Immunovant stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $31.18, for a total transaction of $32,832.54. Following the completion of the transaction, the insider now owns 461,742 shares in the company, valued at approximately $14,397,115.56. The disclosure for this sale can be found here. Insiders sold 99,948 shares of company stock worth $2,936,889 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Immunovant Company Profile

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.