Roivant Sciences (NASDAQ:ROIV) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Roivant Sciences (NASDAQ:ROIV) released its quarterly earnings data on Monday. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.18, reports. The firm had revenue of $35.12 million during the quarter, compared to the consensus estimate of $4.14 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%.

Roivant Sciences Stock Performance

Shares of ROIV opened at $38.88 on Monday. Roivant Sciences has a 1 year low of $19.79 and a 1 year high of $42.50. The company has a market capitalization of $28.08 billion, a price-to-earnings ratio of -73.36 and a beta of 1.23. The company’s 50 day simple moving average is $36.69 and its 200 day simple moving average is $31.80.

Wall Street Analyst Weigh In

Several research firms have weighed in on ROIV. Stifel Nicolaus started coverage on Roivant Sciences in a report on Wednesday, September 16th. They issued a “buy” rating and a $51.00 target price on the stock. Sanford C. Bernstein raised Roivant Sciences to a “strong-buy” rating in a research note on Wednesday, July 29th. Citigroup lifted their price target on Roivant Sciences from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Bank of America reiterated a “neutral” rating on shares of Roivant Sciences in a research report on Friday, July 31st. Finally, Jefferies Financial Group raised their target price on shares of Roivant Sciences from $42.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.55.

Insiders Place Their Bets

In other news, Director Melissa B. Epperly sold 17,750 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $36.10, for a total transaction of $640,775.00. Following the completion of the sale, the director directly owned 14,954 shares in the company, valued at $539,839.40. This represents a 54.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 144,756 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $36.48, for a total value of $5,280,698.88. Following the sale, the insider owned 18,630,739 shares of the company’s stock, valued at $679,649,358.72. This represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,022,688 shares of company stock valued at $73,438,636. Insiders own 8.80% of the company’s stock.

About Roivant Sciences

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.