Roivant Sciences Ltd. (NASDAQ:ROIV) Stock Has Average Target Price of $46.55

Roivant Sciences Ltd. (NASDAQ:ROIV) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $46.55.

Several equities research analysts recently issued reports on ROIV shares. Jefferies Financial Group lifted their price objective on Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a research note on Wednesday, October 21st. Finally, Stifel Nicolaus started coverage on Roivant Sciences in a research report on Wednesday, September 16th. They set a “buy” rating and a $51.00 price target for the company.

Insiders Place Their Bets

In other Roivant Sciences news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the sale, the chief executive officer owned 1,399,154 shares of the company’s stock, valued at $49,124,296.94. The trade was a 12.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 284,707 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the sale, the insider directly owned 18,630,739 shares of the company’s stock, valued at $675,364,288.75. The trade was a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,022,688 shares of company stock worth $73,438,636 in the last 90 days. 8.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roivant Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Roivant Sciences by 18.2% in the second quarter. Assenagon Asset Management S.A. now owns 8,362,952 shares of the company’s stock valued at $295,965,000 after buying an additional 1,286,464 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Roivant Sciences by 3.8% during the first quarter. Perceptive Advisors LLC now owns 8,285,461 shares of the company’s stock worth $229,507,000 after purchasing an additional 300,000 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Roivant Sciences by 20.3% in the third quarter. Pictet Asset Management Holding SA now owns 4,173,123 shares of the company’s stock valued at $152,597,000 after purchasing an additional 704,783 shares during the last quarter. Bank of America Corp DE raised its holdings in Roivant Sciences by 8.0% during the first quarter. Bank of America Corp DE now owns 3,163,821 shares of the company’s stock worth $87,638,000 after purchasing an additional 235,493 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Roivant Sciences by 6.1% during the 1st quarter. Janus Henderson Group PLC now owns 3,095,448 shares of the company’s stock worth $85,790,000 after buying an additional 177,339 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Stock Up 6.2%

ROIV stock opened at $38.88 on Friday. The firm has a market capitalization of $28.08 billion, a P/E ratio of -73.36 and a beta of 1.23. The company has a fifty day simple moving average of $36.69 and a two-hundred day simple moving average of $31.80. Roivant Sciences has a 52 week low of $19.79 and a 52 week high of $42.50.

Roivant Sciences (NASDAQ:ROIV) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $1.44 million during the quarter, compared to the consensus estimate of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. As a group, analysts anticipate that Roivant Sciences will post -2.00 EPS for the current year.

Roivant Sciences Company Profile

Roivant Sciences is a biopharmaceutical company that develops medicines through a network of subsidiary companies, which it calls “Vants.” These businesses focus on advancing drug candidates in areas such as immunology, oncology, neuroscience and rare diseases.

Founded in 2014, Roivant has built and supported subsidiaries to develop treatments, manage clinical programs and pursue partnerships. Its portfolio has included both internally developed candidates and medicines licensed from other companies.

Roivant operates internationally, with activities spanning the United States and other markets.