H.C. Wainwright Raises Price Target for Immunovant Following Positive Rheumatoid Arthritis Trial Data
Following positive Phase 2 trial data in rheumatoid arthritis, H.C. Wainwright raised its price target on Immunovant (IMVT) from $35 to $40 and increased the probability of success for IMVT-1402 from 30% to 55%. BofA Securities also upgraded its price objective to $43 and boosted peak sales forecasts. The trial results suggest that FcRn-based therapy may offer distinct advantages over JAK/TNF-directed treatments.
Tickers: $IMVT
Topics: Pharmaceuticals Rheumatoid Arthritis Trial Data Stock Analysis