Keep an eye on Immunovant (IMVT). After bouncing from double-bottom support, the stock is now up to $37.50. 

Helping, JP Morgan just initiated coverage of the stock with an overweight rating, with a price target of $51.  The firm believes IMVT could be a key player in the autoimmune space, noting, “While we expect choppiness in IMVT shares near term, driven by competitor data flows, we think IMVT’s longer-term, de-risked outlook holds opportunities given the multiple clinical and strategic catalysts by 1H25,” they said, as quoted by CNBC.

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They added, “While we acknowledge the number of FcRn-targeted competitors in the market, we believe the company is well positioned, as: (1) its line of subcutaneously self-administered products may stand out with a potential edge on efficacy and ease of use that can be helpful in markets where competitors are already ahead, and (2) it is moving strategically in spaces like thyroid / endocrine where it can be the first mover.”

Plus, investors are waiting on further data from the company’s IMVT-1402 treatment for autoimmune disease. According to the company, “Immunovant’s second-generation antibody targeting the neonatal fragment crystallizable receptor (FcRn) continued to show potentially best-in-class profile in a Phase 1 clinical trial in healthy adults.”


Ian Cooper