Pier Capital LLC Raises Position in Roivant Sciences Ltd. (NASDAQ:ROIV)

Pier Capital LLC raised its stake in Roivant Sciences Ltd. (NASDAQ:ROIV) by 29.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 425,087 shares of the company’s stock after buying an additional 96,905 shares during the quarter. Pier Capital LLC’s holdings in Roivant Sciences were worth $4,493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Roivant Sciences during the second quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new stake in shares of Roivant Sciences during the first quarter valued at approximately $72,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Roivant Sciences during the second quarter valued at approximately $101,000. ORG Partners LLC purchased a new stake in shares of Roivant Sciences during the second quarter valued at approximately $106,000. Finally, Premier Path Wealth Partners LLC purchased a new stake in shares of Roivant Sciences during the first quarter valued at approximately $126,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ROIV has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Roivant Sciences in a report on Monday, August 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a report on Monday. Finally, Piper Sandler raised their price target on Roivant Sciences from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.10.

Roivant Sciences Trading Down 2.5 %

NASDAQ ROIV opened at $12.19 on Wednesday. The stock’s 50-day simple moving average is $11.24 and its two-hundred day simple moving average is $11.02. Roivant Sciences Ltd. has a twelve month low of $8.24 and a twelve month high of $13.24. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 2.41 and a beta of 1.25.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.33. The firm had revenue of $55.10 million for the quarter, compared to the consensus estimate of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The company’s quarterly revenue was up 155.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.38) earnings per share. Research analysts forecast that Roivant Sciences Ltd. will post -1.14 EPS for the current fiscal year.

About Roivant Sciences

Roivant Sciences Ltd., a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for inflammation and immunology areas. The company provides Vants, a model to develop and commercialize its medicines and technologies focusing on biopharmaceutical businesses, discovery-stage companies, and health technology startups.