Truist analyst Robyn Karnauskas raised the firm’s price target on Immunovant (IMVT) to $48 from $30 and keeps a Buy rating on the shares. The analyst cites the firm’s increased conviction in the opportunity with FcRn given that the FcRn class revenue opportunity is “vast and growing”, with 22 indications in clinic. With argenx SE (ARGX) as a comp, Immunovant shares appear “undervalued”, Truist tells investors in a research note.
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