Immunovant Beats Q3 Loss Estimates, Analysts Raise Targets to $44 and $23
Immunovant reported Q3 2025 loss of $0.61 per share, beating consensus by $0.11, with net loss of $110.6 million flat year-over-year as R&D rose to $98.9 million and G&A fell to $15.4 million. Guggenheim raised its price target to $44 and Truist lifted its target to $23 following the results.
1. Q3 Earnings Beat Expectations
Immunovant reported a Q3 2025 net loss of $110.6 million, or $0.61 per share, outperforming the consensus loss of $0.72 per share. General and administrative expenses declined to $15.4 million while R&D spending rose to $98.9 million year-over-year.
2. Analyst Price Target Revisions
Following the earnings release, Guggenheim lifted its price target on Immunovant from $41 to $44, and Truist raised its target from $22 to $23 while maintaining their ratings. These adjustments reflect increased confidence in the company’s cost management and pipeline progression.
3. Upcoming Clinical Milestones
Immunovant expects topline results in the latter half of 2026 from its proof-of-concept cutaneous lupus trial and the IMVT-1402 rheumatoid arthritis study. It also plans to release Phase 3 batoclimab data for thyroid eye disease in the first half of this year, potentially impacting future valuation.