Jefferies raises Roivant Sciences' PT on strong sales potential

Immunovant

27/12/2022 16:38

** Jefferies raises PT for Roivant Sciences Ltd  ROIV.O  to
$12 from $8, citing blockbuster sales potential in biotech's
2023 clinical pipeline assets 
    ** Stock up 6.7% at $7.5 
    ** Brokerage keen on co's mid-to-late-stage programs,
including treatment trials related to different skin conditions
as psoriasis and atopic dermatitis and bowel disease -
ulcerative colitis (UC)
    ** Adds, if positive, the Street should have greater
visibility into ROIV's each clinical asset with potential to
drive $1 bln to $3 bln in peak sales
    ** Drug developer Immunovant Inc  IMVT.O  is co-developing
anti-FcRn monoclonal antibody, IMVT-1402 with Roivant; brokerage
believes IMVT-1402 is ROIV's biggest near-term catalyst 
    ** Positive early-stage results on IMVT-1402 could provide
further upside to ROIV; data expected around mid-2023 -
Jefferies 
    ** Including session's gains, stock down 25.8% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))