In a report released today, Yasmeen Rahimi from Piper Sandler initiated coverage with a Buy rating on Immunovant (IMVT – Research Report) and a price target of $57.00. The company’s shares closed yesterday at $27.75.
Rahimi covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Soleno Therapeutics, and Savara. According to TipRanks, Rahimi has an average return of 2.8% and a 34.29% success rate on recommended stocks.
Immunovant has an analyst consensus of Strong Buy, with a price target consensus of $51.40, implying an 85.23% upside from current levels. In a report released on April 22, Wells Fargo also maintained a Buy rating on the stock with a $48.00 price target.
The company has a one-year high of $45.58 and a one-year low of $15.90. Currently, Immunovant has an average volume of 1.16M.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMVT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Immunovant (IMVT) Company Description:
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.
Read More on IMVT:
- Immunovant management to meet with Piper Sandler
- 3 Best Stocks to Buy Now, 4/22/2024, According to Top Analysts
- Immunovant initiated with an Outperform at Oppenheimer
- JPMorgan reiterates Overweight ratings on Roivant, Immunovant
- Rocheâs mixed myasthenia gravis data sending these stocks in opposite directions
