UPDATE: Baird Downgrades Immunovant (IMVT) to Neutral

August 3, 2021 4:13 AM EDT
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Price: $8.53 --0%

Rating Summary:
    6 Buy, 4 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 7 | New: 7
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(Updated - August 3, 2021 9:08 AM EDT)

Baird analyst Brian Skorney downgraded Immunovant (NASDAQ: IMVT) from Outperform to Neutral with a price target of $10 on the Roivant deal, which takes a full takeover off the table.

The analyst commented, "Immunovant announced that it received an additional $200M investment from Roivant, taking a full acquisition off of the table, in our view. With a takeout being the primary driver of our bull thesis, and a difficult development path for IMVT-1401 going forward amidst safety concerns and competition, we are downgrading to Neutral and lowering our target to $10."

For an analyst ratings summary and ratings history on Immunovant click here. For more ratings news on Immunovant click here.

Shares of Immunovant closed at $7.74 yesterday.


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