Immunovant (IMVT, Financial) is setting the stage for its next chapter of growth with strategic leadership changes and a focused expansion of its development pipeline. Dr. Eric Venker, Roivant's (ROIV) President and an Immunovant Board Director, has taken the helm as CEO, succeeding Dr. Pete Salzmann who has retired. Dr. Venker brings a wealth of experience with over 20 years in clinical and operational roles, and he will continue to contribute to the Board.
In another major leadership update, Tiago Girao is stepping in as the new Chief Financial Officer, following Renee Barnett's departure. Girao was previously the CFO at Telavant, bringing substantial financial expertise to the team.
These leadership shifts coincide with a strategic realignment of Immunovant's development efforts. With the company's activities related to batoclimab nearing completion, attention is turning to the expansion of IMVT-1402. The company is broadening its scope for IMVT-1402 to include two new indications: Sjögren’s Syndrome (SjD) and Cutaneous Lupus Erythematosus (CLE).
Significantly, an Investigational New Drug (IND) application has been cleared for IMVT-1402 in SjD, marking the treatment's fifth approved indication. Positive Phase 2 data from similar class drugs indicate a strong relationship between the reduction of IgG levels and clinical improvements. This upcoming study is expected to commence in the summer of 2025, aiming for a potentially registrational program.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for Immunovant Inc (IMVT, Financial) is $46.85 with a high estimate of $61.00 and a low estimate of $20.00. The average target implies an upside of 209.22% from the current price of $15.15. More detailed estimate data can be found on the Immunovant Inc (IMVT) Forecast page.
Based on the consensus recommendation from 15 brokerage firms, Immunovant Inc's (IMVT, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
