Roivant Sciences (NASDAQ:ROIV) Given New $12.50 Price Target at Bank of America

Roivant Sciences (NASDAQ:ROIV) had its price target hoisted by Bank of America from $12.00 to $12.50 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

ROIV has been the subject of several other reports. Piper Sandler upped their target price on Roivant Sciences from $20.00 to $22.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Cantor Fitzgerald reiterated an overweight rating on shares of Roivant Sciences in a research report on Monday, September 9th. Finally, HC Wainwright reiterated a buy rating and set a $18.00 price objective on shares of Roivant Sciences in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $17.15.

Roivant Sciences Stock Down 1.5 %

NASDAQ:ROIV opened at $11.94 on Wednesday. The firm has a market capitalization of $8.83 billion, a PE ratio of 2.36 and a beta of 1.25. The stock has a 50 day moving average of $11.34 and a 200-day moving average of $11.04. Roivant Sciences has a 52 week low of $8.24 and a 52 week high of $13.24. The company has a current ratio of 27.91, a quick ratio of 27.91 and a debt-to-equity ratio of 0.05.

Roivant Sciences (NASDAQ:ROIV) last posted its earnings results on Thursday, August 8th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.33. The company had revenue of $55.10 million during the quarter, compared to analyst estimates of $30.72 million. Roivant Sciences had a negative return on equity of 17.23% and a net margin of 2,991.75%. The business’s revenue was up 155.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) earnings per share. Analysts predict that Roivant Sciences will post -1.14 EPS for the current year.

Institutional Investors Weigh In On Roivant Sciences

Institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp acquired a new stake in Roivant Sciences in the first quarter worth approximately $3,115,000. American International Group Inc. lifted its position in Roivant Sciences by 7,589.5% in the first quarter. American International Group Inc. now owns 450,065 shares of the company’s stock worth $4,744,000 after purchasing an additional 444,212 shares during the period. Nordea Investment Management AB acquired a new stake in Roivant Sciences in the first quarter worth approximately $2,851,000. Magnetar Financial LLC acquired a new stake in Roivant Sciences in the first quarter worth approximately $1,576,000. Finally, Mutual of America Capital Management LLC lifted its position in Roivant Sciences by 116.8% in the first quarter. Mutual of America Capital Management LLC now owns 325,937 shares of the company’s stock worth $3,435,000 after purchasing an additional 175,574 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Company Profile

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.