Immunovant Inc. Down 1.67% To $17.99 After Earnings Miss

Immunovant Inc (IMVT) missed earnings projections on 2/3/2023 for Q3 2023.

Immunovant Inc.'s earnings came in at an EPS loss of $0.49 per share, 26% lower than estimates for an EPS loss of $0.39 per share. The firm's loss per share expanded by 36% since reporting a loss of $0.36 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were in line at $0.00. That revenue figure is unchanged from the year ago report from the year ago quarter.

The stock is down 1.67% to $17.99 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 72. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Immunovant Inc is a clinical-stage biopharmaceutical company. It is focused on enabling normal lives for patients with autoimmune diseases. The company's product includes IMVT-1401 targets the neonatal Fc receptor (FcRn).