Guggenheim raised the firm’s price target on Immunovant to $48 from $32 and keeps a Buy rating on the shares after the company announced the “highly awaited” results from Phase I trial of IMVT-1402, “revealing an excellent profile.” The firm says the positive results “are in line/ahead of our expectations and better than Street’s expectations” and believes that they “fully de-risk this asset,” the analyst tells investors.
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