Zacks Research Weighs in on Immunovant FY2028 Earnings

Immunovant, Inc. (NASDAQ:IMVT) – Equities researchers at Zacks Research issued their FY2028 earnings estimates for shares of Immunovant in a research report issued on Wednesday, June 18th. Zacks Research analyst E. Bagri expects that the company will post earnings per share of ($2.81) for the year. The consensus estimate for Immunovant’s current full-year earnings is ($2.69) per share.

A number of other research analysts have also recently issued reports on the stock. UBS Group reissued a “neutral” rating and set a $17.00 price target (down from $38.00) on shares of Immunovant in a research report on Tuesday, April 22nd. Jefferies Financial Group began coverage on shares of Immunovant in a research report on Monday, March 3rd. They set a “hold” rating and a $20.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Immunovant in a research report on Wednesday, March 19th. Guggenheim reissued a “buy” rating on shares of Immunovant in a research report on Thursday, March 20th. Finally, Bank of America lowered their price target on shares of Immunovant from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Immunovant Trading Up 3.4%

NASDAQ:IMVT opened at $16.00 on Monday. Immunovant has a 12 month low of $12.72 and a 12 month high of $34.47. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -5.84 and a beta of 0.61. The company has a 50-day moving average price of $15.08 and a 200-day moving average price of $19.06.

Immunovant (NASDAQ:IMVT) last posted its earnings results on Thursday, May 29th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.08. The company had revenue of $0.16 million during the quarter. During the same period last year, the company posted ($0.52) earnings per share.

Institutional Trading of Immunovant

Large investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Immunovant in the first quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new stake in shares of Immunovant in the first quarter worth approximately $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Immunovant in the first quarter worth approximately $37,000. Headlands Technologies LLC bought a new stake in shares of Immunovant in the first quarter worth approximately $51,000. Finally, Covestor Ltd grew its stake in shares of Immunovant by 187.5% in the first quarter. Covestor Ltd now owns 3,764 shares of the company’s stock worth $64,000 after acquiring an additional 2,455 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Immunovant news, CFO Eva Renee Barnett sold 2,993 shares of Immunovant stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $14.89, for a total value of $44,565.77. Following the completion of the transaction, the chief financial officer now directly owns 396,774 shares of the company’s stock, valued at approximately $5,907,964.86. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Salzmann sold 28,094 shares of Immunovant stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $12.99, for a total transaction of $364,941.06. Following the completion of the transaction, the chief executive officer now directly owns 1,186,512 shares of the company’s stock, valued at $15,412,790.88. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,682 shares of company stock valued at $596,619. Insiders own 5.90% 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.