We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Reasons to Add Immunovant (IMVT) Stock to Your Portfolio Now
Read MoreHide Full Article
Immunovant, Inc. (IMVT - Free Report) currently looks like a good stock to invest in the biotech sector. Though smaller biotechs are riskier as their pipelines are several years away from commercialization, IMVT presents itself as a relatively safe yet prospective option.
Immunovat’s lead pipeline candidate batoclimab (formerly IMVT-1401) is a fully human, monoclonal antibody that selectively binds to and inhibits neonatal fragment crystallizable receptors (FcRn). The company is making rapid progress with the development of batoclimab, which is being studied for treating several autoimmune diseases.
Immunovant’s loss estimates have narrowed from $1.64 per share to $1.54 per share for 2023 over the past 60 days. Shares of Immunovant have surged 56.1% so far this year against the industry’s decline of 19.5%.
Image Source: Zacks Investment Research
Batoclimab, a Promising Candidate: Immunovant is developing batoclimab with an initial focus on the treatment of myasthenia gravis (“MG”), thyroid eye disease (“TED”) and warm autoimmune hemolytic anemia (“WAIHA”).
In September 2022, IMVT announced that it plans to develop batoclimab for two new indications, namely chronic inflammatory demyelinating polyneuropathy and Graves’ disease.
The company is looking to initiate a pivotal phase IIb study to evaluate batoclimab for treating chronic inflammatory demyelinating by 2022 end. IMVT also plans to start another phase II study on the same to treat Graves’ disease in early 2023.
Immunovant initiated a pivotal study evaluating batoclimab for the treatment of MG in June 2022. Top-line data from the same is expected in the second half of 2024.
Immunovant achieved alignment with the FDA’s Division of Ophthalmology to initiate two phase III studies for evaluating batoclimab to treat TED. Both studies are progressing well. Top-line data from both are expected in the first half of 2025.
IMVT also plans to initiate a placebo-controlled study on batoclimab for treating WAIHA. The study is contingent on discussions with the hematology division of the FDA, which are expected to take place later in 2022.
Differentiated Profile of Batoclimab Makes it Favorable: The company is developing batoclimab as a subcutaneously-administered regimen. If approved, the company will market batoclimab as a fixed-dose pre-filled syringe, which would allow convenient self-administration, eliminating the need for frequent and costly clinic visits, and reducing complexity and errors associated with measuring individual doses.
Thus, batoclimab is a unique and promising asset within the FcRn drug class. The company believes that, if approved, the candidate will become a cornerstone therapy for treating many auto-antibody-driven diseases and would be a unique treatment, different from the currently available ones that are more invasive for advanced immunoglobulin G (IgG)-mediated autoimmune diseases.
In September 2022, Immunovant announced that it plans to begin a phase I study on its new anti-FcRn, IMVT-1402, in early 2023 contingent on IND clearance. Initial data from the same is expected in mid-2023.
Immunovant’s portfolio is currently devoid of any approved products. As a result, successful development and potential approval of it will be a big boost for the company.
Other Stocks to Consider
Other stocks worth considering in the biotech sector are ASLAN Pharmaceuticals Limited (ASLN - Free Report) , Immunocore Holdings plc (IMCR - Free Report) and Angion Biomedica Corp. , all carrying a Zacks Rank #2 at present.
Loss per share estimates for ASLAN Pharmaceuticals have narrowed 6.1% for 2022 and 5.7% for 2023 in the past 60 days.
Earnings of ASLAN Pharmaceuticals surpassed estimates in two of the trailing four quarters and missed on the remaining two occasions. ASLN witnessed an earnings surprise of 1.64% on average.
Loss per share estimates for Immunocore have narrowed 39.7% for 2022 and 39.4% for 2023 in the past 60 days.
Earnings of Immunocore surpassed estimates in three of the trailing four quarters and missed on the remaining occasion. IMCR witnessed an earnings surprise of 68.34% on average.
Loss per share estimates for Angion Biomedica have narrowed 6.1% for 2022 and 3.9% for 2023 in the past 60 days.
Earnings of Angion Biomedica surpassed estimates in three of the trailing four quarters and missed the mark on the other occasion. ANGN witnessed an earnings surprise of 66.42% on average.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
Reasons to Add Immunovant (IMVT) Stock to Your Portfolio Now
Immunovant, Inc. (IMVT - Free Report) currently looks like a good stock to invest in the biotech sector. Though smaller biotechs are riskier as their pipelines are several years away from commercialization, IMVT presents itself as a relatively safe yet prospective option.
Immunovat’s lead pipeline candidate batoclimab (formerly IMVT-1401) is a fully human, monoclonal antibody that selectively binds to and inhibits neonatal fragment crystallizable receptors (FcRn). The company is making rapid progress with the development of batoclimab, which is being studied for treating several autoimmune diseases.
Let’s delve deeper:
Good Rank and Rising Estimates: Immunovant currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Immunovant’s loss estimates have narrowed from $1.64 per share to $1.54 per share for 2023 over the past 60 days. Shares of Immunovant have surged 56.1% so far this year against the industry’s decline of 19.5%.
Image Source: Zacks Investment Research
Batoclimab, a Promising Candidate: Immunovant is developing batoclimab with an initial focus on the treatment of myasthenia gravis (“MG”), thyroid eye disease (“TED”) and warm autoimmune hemolytic anemia (“WAIHA”).
In September 2022, IMVT announced that it plans to develop batoclimab for two new indications, namely chronic inflammatory demyelinating polyneuropathy and Graves’ disease.
The company is looking to initiate a pivotal phase IIb study to evaluate batoclimab for treating chronic inflammatory demyelinating by 2022 end. IMVT also plans to start another phase II study on the same to treat Graves’ disease in early 2023.
Immunovant initiated a pivotal study evaluating batoclimab for the treatment of MG in June 2022. Top-line data from the same is expected in the second half of 2024.
Immunovant achieved alignment with the FDA’s Division of Ophthalmology to initiate two phase III studies for evaluating batoclimab to treat TED. Both studies are progressing well. Top-line data from both are expected in the first half of 2025.
IMVT also plans to initiate a placebo-controlled study on batoclimab for treating WAIHA. The study is contingent on discussions with the hematology division of the FDA, which are expected to take place later in 2022.
Differentiated Profile of Batoclimab Makes it Favorable: The company is developing batoclimab as a subcutaneously-administered regimen. If approved, the company will market batoclimab as a fixed-dose pre-filled syringe, which would allow convenient self-administration, eliminating the need for frequent and costly clinic visits, and reducing complexity and errors associated with measuring individual doses.
Thus, batoclimab is a unique and promising asset within the FcRn drug class. The company believes that, if approved, the candidate will become a cornerstone therapy for treating many auto-antibody-driven diseases and would be a unique treatment, different from the currently available ones that are more invasive for advanced immunoglobulin G (IgG)-mediated autoimmune diseases.
In September 2022, Immunovant announced that it plans to begin a phase I study on its new anti-FcRn, IMVT-1402, in early 2023 contingent on IND clearance. Initial data from the same is expected in mid-2023.
Immunovant’s portfolio is currently devoid of any approved products. As a result, successful development and potential approval of it will be a big boost for the company.
Other Stocks to Consider
Other stocks worth considering in the biotech sector are ASLAN Pharmaceuticals Limited (ASLN - Free Report) , Immunocore Holdings plc (IMCR - Free Report) and Angion Biomedica Corp. , all carrying a Zacks Rank #2 at present.
Loss per share estimates for ASLAN Pharmaceuticals have narrowed 6.1% for 2022 and 5.7% for 2023 in the past 60 days.
Earnings of ASLAN Pharmaceuticals surpassed estimates in two of the trailing four quarters and missed on the remaining two occasions. ASLN witnessed an earnings surprise of 1.64% on average.
Loss per share estimates for Immunocore have narrowed 39.7% for 2022 and 39.4% for 2023 in the past 60 days.
Earnings of Immunocore surpassed estimates in three of the trailing four quarters and missed on the remaining occasion. IMCR witnessed an earnings surprise of 68.34% on average.
Loss per share estimates for Angion Biomedica have narrowed 6.1% for 2022 and 3.9% for 2023 in the past 60 days.
Earnings of Angion Biomedica surpassed estimates in three of the trailing four quarters and missed the mark on the other occasion. ANGN witnessed an earnings surprise of 66.42% on average.