Immunovant, Inc. (IMVT) stock plummeted 5.10% in the intraday trading session on Monday, following the release of the company's disappointing earnings report for the quarter ended December 31, 2024.
According to the report, Immunovant posted a larger quarterly adjusted loss of $0.76 per share, missing analysts' expectations of a $0.75 loss per share. The company's reported net loss for the quarter widened to $111.12 million, compared to a net loss of $36 million in the same period last year.
Despite reporting zero revenue, in line with expectations, the wider-than-anticipated losses and downward revisions in analysts' earnings estimates seem to have weighed on investor sentiment, driving the stock price lower. However, most analysts maintain a "buy" rating on the stock, with a median 12-month price target of $51.00.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.