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Immunovant
(NASDAQ:IMVT)
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Rating:55Neutral
Price Target:
$29.00
▼(-33.82% Downside)
Action:Reiterated
Date:09/24/26
The score is held back primarily by weak financial performance (no revenue, widening losses, and heavy cash burn) and bearish technical momentum. This is partly offset by a strong balance sheet and a more positive earnings-call outlook driven by significant liquidity improvement and multiple near-term clinical/regulatory catalysts.
Positive Factors
Strong balance sheet
Minimal financial leverage reduces refinancing and interest-rate exposure while sizable equity and assets provide capacity to fund ongoing clinical development. This financial flexibility is valuable for a clinical-stage company facing long development timelines and uncertain commercialization dates.
Negative Factors
No current revenue
The absence of revenue leaves the company dependent on clinical progress, regulatory approvals, and future product launches to establish commercial self-sufficiency. Until those milestones are achieved, operating performance offers little evidence of a recurring revenue base or proven market demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Minimal financial leverage reduces refinancing and interest-rate exposure while sizable equity and assets provide capacity to fund ongoing clinical development. This financial flexibility is valuable for a clinical-stage company facing long development timelines and uncertain commercialization dates.
Read all positive factors
Immunovant (IMVT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.87B
Dividend YieldN/A
Average Volume (3M)1.59M
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue GrowthN/A
EPS Growth1.28%
CountryUS
Employees315
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.82
Shares Outstanding206,552,690
10 Day Avg. Volume1,534,346
30 Day Avg. Volume1,586,883
Financial Highlights & Ratios
PEG Ratio-6.12
Price to Book (P/B)5.31
Price to Sales (P/S)0.00
P/FCF Ratio-11.12
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue1.00K
Enterprise Value/Gross Profit1.03K
Enterprise Value/Ebitda-13.22
Forecast
1Y Price Target
$48.80Price Target Upside11.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)-2.94
Revenue Forecast (FY)N/A
Immunovant Business Overview & Revenue Model
Company Description
Immunovant, Inc. is a biopharmaceutical firm in the clinical development phase, dedicated to advancing novel monoclonal antibody therapies for the treatment of various autoimmune conditions. The company's primary focus is batoclimab, a pioneering,...
Immunovant Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call emphasized substantial near-term and medium-term upside: a large multipart settlement that materially increases liquidity, an active and well-funded pipeline with multiple imminent readouts and a potential approval/launch for brexpiprazole in dermatomyositis, successful enrollments in registrational studies, and ongoing shareholder capital returns. These positives were balanced against recognized clinical and operational risks—placebo variability, translation risk for PH-ILD, JAK-class safety perceptions, geographic variability in trials, and continued high R&D and G&A spend. On balance, management presents confident execution and a strong catalyst calendar that outweigh the disclosed risks.Positive Updates
Large Upfront Settlement Received from Moderna
Roivant reported a $950 million upfront settlement with Moderna, with approximately $770 million (≈81% of the total) directed to Genevant and the remainder to Arbutus. Management noted this payment will materially boost cash (company had just under $4.0B cash before receipt, implying roughly a ~19% increase to about $4.7B after the ~$772M receipt).
Negative Updates
Quarter Characterized as Quiet with Limited Immediate Commercial Revenue
Management described the quarter as 'quiet' with limited commercial revenue events noted; the business is highly catalyst-driven and dependent on imminent trial readouts and regulatory approvals to drive near-term commercial revenue.
Read all updates
Q1-2027 Updates
Positive
Negative
Large Upfront Settlement Received from Moderna
Roivant reported a $950 million upfront settlement with Moderna, with approximately $770 million (≈81% of the total) directed to Genevant and the remainder to Arbutus. Management noted this payment will materially boost cash (company had just under $4.0B cash before receipt, implying roughly a ~19% increase to about $4.7B after the ~$772M receipt).
Read all positive updates
Company Guidance
Management's guidance emphasized a "slow and steady" commercial rollout for brexpiprazole — with priority review/PDUFA this quarter and an expected dermatomyositis launch by end‑September — and a plan to provide more detailed launch metrics only around approval and in subsequent quarterly updates. Near‑term clinical catalysts include top‑line NIU and PH‑ILD readouts in H2 2026, DroTRA program updates and a CLE POC 12‑week readout in H2 2026, and a newly initiated Phase III cutaneous sarcoidosis study (140 patients across ~70 sites, 3:2 randomization to 45 mg, 16‑week primary endpoint: CSAMI ≥50% response) with top‑line expected in 2028. Financially they reported ~ $200M of R&D expense for the quarter, just under $100M non‑GAAP adjusted G&A (GAAP G&A $166M), cash just under $4B (pre‑receipt), receipt of the $950M Moderna settlement (~$770M to Genevant) with a potential additional $1.3B on appeal, and about $200M of share repurchases in the quarter (continuing per authorization); management also reiterated a pipeline cadence target of 3+ commercial launches, 9 study readouts and 4+ NDA/BLA filings by end‑2028.Immunovant Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.09M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 6.89M | -409.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -538.52M | -504.98M | -412.57M | -258.54M | -198.28M | -156.69M |
| Net Income | -538.22M | -505.61M | -413.84M | -259.34M | -210.96M | -156.73M |
Balance Sheet | ||||||
| Total Assets | 852.49M | 957.57M | 776.22M | 666.71M | 405.84M | 515.56M |
| Cash, Cash Equivalents and Short-Term Investments | 797.80M | 902.11M | 713.97M | 635.37M | 376.53M | 493.82M |
| Total Debt | 0.00 | 72.00K | 98.00K | 138.00K | 1.22M | 2.36M |
| Total Liabilities | 117.10M | 104.97M | 68.78M | 48.95M | 43.34M | 45.74M |
| Stockholders Equity | 735.39M | 852.59M | 707.45M | 617.76M | 362.49M | 469.82M |
Cash Flow | ||||||
| Free Cash Flow | -414.31M | -407.32M | -376.63M | -214.59M | -188.39M | -106.37M |
| Operating Cash Flow | -414.30M | -407.31M | -375.87M | -214.23M | -188.19M | -106.11M |
| Investing Cash Flow | -8.00K | -8.00K | -759.00K | -360.00K | -197.00K | -254.00K |
| Financing Cash Flow | 612.93M | 595.76M | 454.49M | 472.43M | 70.89M | 200.13M |
Immunovant Technical Analysis
Negative
43.82
Price Trends
36.04
Negative
36.90
Negative
31.97
Negative
Market Momentum
-2.21
Negative
31.89
Neutral
59.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMVT, the sentiment is Negative. The current price of 43.82 is above the 20-day moving average (MA) of 30.43, above the 50-day MA of 36.04, and above the 200-day MA of 31.97, indicating a bearish trend. The MACD of -2.21 indicates Negative momentum. The RSI at 31.89 is Neutral, neither overbought nor oversold. The STOCH value of 59.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IMVT.
Immunovant Risk Analysis
Immunovant disclosed 77 risk factors in its most recent earnings report. Immunovant reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Immunovant Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $2.24B | 7.14 | 59.00% | ― | 19.76% | 444.46% | |
70 Outperform | $8.96B | 113.64 | 12.03% | ― | 34.81% | 44.59% | |
66 Neutral | $8.29B | 17.79 | 72.30% | ― | 76.08% | 634.54% | |
59 Neutral | $9.21B | -34.08 | -21.50% | ― | 134.84% | 6.73% | |
55 Neutral | $5.87B | -10.07 | -69.59% | ― | ― | 1.28% | |
55 Neutral | $2.53B | -6.34 | -61.35% | ― | 23220.33% | 13.06% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
IMVT
Immunovant
28.41
6.98
32.57%
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54.17
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VRDN
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22.37
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AUPH
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16.86
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37.18%
PTGX
Protagonist Therapeutics
138.43
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KYMR
Kymera Therapeutics
110.76
49.91
82.02%
Immunovant Corporate Events
Executive/Board ChangesShareholder Meetings
Immunovant Shareholders Back Board, Auditor and Executive Pay
Positive
Sep 3, 2026
On September 2, 2026, Immunovant, Inc. held its 2026 Annual Meeting of Stockholders, with approximately 96% of eligible common and Series A preferred shares represented, reflecting strong shareholder engagement. At the meeting, stockholders electe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.