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

Immunovant, Inc. (NASDAQ:IMVT) – Equities researchers at Zacks Research boosted their FY2024 earnings per share estimates for Immunovant in a research note issued to investors on Thursday, April 25th. Zacks Research analyst E. Bagri now anticipates that the company will post earnings per share of ($1.72) for the year, up from their previous estimate 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.

Other equities research analysts also recently issued research reports about the company. Oppenheimer started coverage on Immunovant in a research report on Thursday, March 28th. They set an “outperform” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Immunovant in a research note on Tuesday, February 20th. They set an “overweight” rating and a $51.00 target price on the stock. Wolfe Research started coverage on Immunovant in a research note on Thursday, February 15th. They issued an “outperform” rating and a $55.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Immunovant in a research note on Friday, January 12th. Finally, The Goldman Sachs Group started coverage on shares of Immunovant in a research note on Wednesday, March 13th. They issued a “buy” rating and a $50.00 target price for the company. Seventeen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $48.00.

Immunovant Stock Down 0.2 %

Shares of NASDAQ:IMVT opened at $27.44 on Monday. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -14.91 and a beta of 0.65. The firm has a 50 day moving average of $31.70 and a 200 day moving average of $35.65. Immunovant has a 52 week low of $16.58 and a 52 week high of $45.58.

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

Insider Activity

In other news, CEO Peter Salzmann sold 34,079 shares of Immunovant stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $29.06, for a total value of $990,335.74. Following the sale, the chief executive officer now owns 1,052,879 shares in the company, valued at $30,596,663.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Peter Salzmann sold 34,079 shares of Immunovant stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $29.06, for a total value of $990,335.74. Following the sale, the chief executive officer now directly owns 1,052,879 shares in the company, valued at approximately $30,596,663.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jay S. Stout sold 7,239 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $28.90, for a total value of $209,207.10. Following the transaction, the chief technology officer now directly owns 147,739 shares of the company’s stock, valued at approximately $4,269,657.10. The disclosure for this sale can be found here. Insiders sold 81,560 shares of company stock worth $2,424,601 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immunovant

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Immunovant during the 4th quarter worth approximately $27,000. Assetmark Inc. acquired a new stake in shares of Immunovant in the 4th quarter worth $61,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Immunovant by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,360 shares of the company’s stock worth $129,000 after acquiring an additional 1,651 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Immunovant in the fourth quarter valued at about $212,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Immunovant during the third quarter worth about $230,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

About Immunovant

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.