Immunovant price target raised to $51 from $49 at BofA

BofA analyst Jason Gerberry raised the firm’s price target on Immunovant to $51 from $49 and keeps a Buy rating on the shares. Immunovant reported positive Phase 2 pilot study data for ‘1401 treatment of Graves’ disease, and while the study was uncontrolled and small, the company said it was able to achieve greater than 50% response rate in a group of patients who are hyperthyroid despite treatment with anti-thyroid medication for more than 12-weeks, the analyst tells investors in a research note.