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Investing.com - Immunovant (NASDAQ:IMVT) shares gained following Oppenheimer’s reiteration of an Outperform rating and $54.00 price target on the stock. The company, currently valued at $2.9 billion, has seen its shares surge 12.69% over the past week. According to InvestingPro data, analyst targets range from $16 to $57, with a strong consensus recommendation of 1.69 (Buy).
The research firm highlighted "inspiring remission data" from Immunovant’s study of batoclimab in uncontrolled Graves’ disease patients, which demonstrated durable responses even after treatment ended. InvestingPro analysis reveals the stock maintains a FAIR overall financial health score, with notably strong cash flow metrics. Get access to 7 more exclusive ProTips and comprehensive analysis with InvestingPro.
According to the data, approximately 80% (17 out of 21) of patients maintained normal thyroid hormone levels six months after discontinuing batoclimab treatment, with about half of those patients (8 out of 17) achieving remission without requiring anti-thyroid drugs.
Oppenheimer noted these results validate FcRn inhibition as a potential treatment approach for the roughly 25-30% of Graves’ disease patients who experience relapse or remain uncontrolled on standard therapies, or who cannot tolerate anti-thyroid drugs.
The firm also indicated positive implications for Immunovant’s next-generation therapy IMVT-1402, which is currently in registrational trials for Graves’ disease with results expected in 2027.
In other recent news, Immunovant, Inc. reported significant findings regarding its experimental therapy for Graves’ disease, batoclimab. The company announced that approximately 80% of patients maintained normal thyroid function six months after treatment, with nearly half of these achieving remission without needing anti-thyroid drugs. In a separate development, Stifel adjusted its price target for Immunovant to $50 from $61, while maintaining a Buy rating, citing the potential of the FcRn class as a multi-blockbuster opportunity. Additionally, Immunovant appointed Eric Venker as CEO, with a new compensation agreement that includes an annual base salary of $672,000 and a performance bonus potential. Goldman Sachs also resumed coverage of Immunovant, assigning a Neutral rating and a price target of $18. The bank highlighted IMVT-1402 as a promising asset for key indications, including Graves’ disease. These updates reflect the company’s ongoing strategic and operational changes.
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