Immunovant, Inc. to Post FY2024 Earnings of ($1.72) Per Share, Zacks Research Forecasts (NASDAQ:IMVT)

Immunovant, Inc. (NASDAQ:IMVT) – Research analysts at Zacks Research boosted their FY2024 EPS estimates for Immunovant in a report released on Thursday, April 25th. Zacks Research analyst E. Bagri now expects that the company will earn ($1.72) per share for the year, up from their prior forecast of ($1.73). The consensus estimate for Immunovant’s current full-year earnings is ($1.70) per share. Zacks Research also issued estimates for Immunovant’s Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.51) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.52) EPS, Q4 2025 earnings at ($0.51) EPS, FY2025 earnings at ($2.04) EPS, Q1 2026 earnings at ($0.46) EPS, Q2 2026 earnings at ($0.46) EPS, Q3 2026 earnings at ($0.47) EPS, Q4 2026 earnings at ($0.52) EPS and FY2026 earnings at ($1.91) EPS.

Immunovant (NASDAQ:IMVT) last released its quarterly earnings results on Monday, February 12th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07.

A number of other research firms have also recently commented on IMVT. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. The Goldman Sachs Group initiated coverage on Immunovant in a research report on Wednesday, March 13th. They issued a “buy” rating and a $50.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $48.00 price objective on shares of Immunovant in a research report on Monday, March 25th. Wolfe Research assumed coverage on shares of Immunovant in a research report on Thursday, February 15th. They set an “outperform” rating and a $55.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Immunovant in a report on Tuesday, February 20th. They issued an “overweight” rating and a $51.00 price target for the company. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $48.00.

Immunovant Stock Performance

NASDAQ:IMVT opened at $27.44 on Monday. The stock’s fifty day moving average is $31.70 and its 200 day moving average is $35.65. The firm has a market capitalization of $3.99 billion, a PE ratio of -14.91 and a beta of 0.65. Immunovant has a fifty-two week low of $16.58 and a fifty-two week high of $45.58.

Hedge Funds Weigh In On Immunovant

Several institutional investors and hedge funds have recently modified their holdings of IMVT. Principal Financial Group Inc. boosted its position in Immunovant by 32.4% in the 1st quarter. Principal Financial Group Inc. now owns 582,721 shares of the company’s stock worth $18,828,000 after purchasing an additional 142,606 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Immunovant by 66.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 27,936 shares of the company’s stock valued at $903,000 after buying an additional 11,202 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Immunovant by 58.0% in the first quarter. WCM Investment Management LLC now owns 169,665 shares of the company’s stock worth $5,482,000 after acquiring an additional 62,264 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Immunovant by 51.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,091 shares of the company’s stock worth $2,103,000 after acquiring an additional 22,226 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Immunovant by 185.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 14,371 shares of the company’s stock valued at $464,000 after acquiring an additional 9,335 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Insider Buying and Selling at Immunovant

In other news, CEO Peter Salzmann sold 4,807 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $149,882.26. Following the transaction, the chief executive officer now owns 1,086,958 shares in the company, valued at $33,891,350.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Mark S. Levine sold 2,134 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $36.15, for a total transaction of $77,144.10. Following the completion of the transaction, the insider now owns 301,968 shares of the company’s stock, valued at $10,916,143.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter Salzmann sold 4,807 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $31.18, for a total transaction of $149,882.26. Following the completion of the sale, the chief executive officer now directly owns 1,086,958 shares in the company, valued at $33,891,350.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,560 shares of company stock worth $2,424,601. 4.80% of the stock is owned by insiders.

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.