UPDATE: Baird Downgrades Immunovant (IMVT) to Neutral
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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."
Shares of Immunovant closed at $7.74 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesRobert W Baird, Definitive Agreement
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