12 Stocks That Will Double in 2025

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8. Immunovant, Inc. (NASDAQ:IMVT)

Analyst Upside as of January 28, 2025: 129%

Number of Hedge Fund Holders: 36

Immunovant, Inc. (NASDAQ:IMVT) is a biotechnology company that ranks eighth on our list of stocks expected to double in 2025. IMVT has a focus on developing advanced treatments for patients with autoimmune diseases. In the third quarter of 2024, the company announced that five investigational new drug applications cleared across several therapeutic areas and FDA divisions for its leading drug, IMVT-1402. During the quarter, the company also delivered proof of concept data from its batoclimb trial. In an interesting update, IMVT emphasized that it is on track to commence registration trials for IMVT-1402 across several indications by the end of March this year.

On January 27, JPMorgan analyst, Brian Cheng, maintained a buy rating on Immunovant, Inc. (NASDAQ:IMVT) with a price target of $46. The rating was based on the company’s recent and upcoming clinical developments. Cheng emphasized that IMVT is on track with its phase 3 trials for its key drug which will support the company’s core business model and mission. In addition to that, the analyst remained positive on the insights provided by the company in conferences, a factor boosting IMVT’s strategic position. Cheng also suggested that the company’s undervaluation in the thyroid and endocrine space boasts a solid growth opportunity, also giving it a first-mover advantage. Overall, 36 hedge funds held stakes in Immunovant, Inc. (NASDAQ:IMVT) at the end of Q3 2024.

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