Brokerages Set Roivant Sciences Ltd. (NASDAQ:ROIV) PT at $17.93

Roivant Sciences Ltd. (NASDAQ:ROIV) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.93.

Several brokerages recently weighed in on ROIV. Bank of America increased their price objective on Roivant Sciences from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Thursday, September 19th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Roivant Sciences in a report on Wednesday, November 13th.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, CAO Rakhi Kumar sold 250,000 shares of Roivant Sciences stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.89, for a total transaction of $2,972,500.00. Following the completion of the sale, the chief accounting officer now directly owns 209,322 shares of the company’s stock, valued at $2,488,838.58. The trade was a 54.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Venker sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $11.32, for a total value of $1,132,000.00. Following the completion of the transaction, the chief operating officer now directly owns 606,525 shares of the company’s stock, valued at $6,865,863. This trade represents a 14.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,677,309 shares of company stock worth $43,283,184 in the last three months. 7.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roivant Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC boosted its stake in Roivant Sciences by 0.4% in the second quarter. Mutual of America Capital Management LLC now owns 327,079 shares of the company’s stock valued at $3,457,000 after acquiring an additional 1,142 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Roivant Sciences by 23.2% in the 2nd quarter. Acadian Asset Management LLC now owns 8,510 shares of the company’s stock valued at $89,000 after purchasing an additional 1,603 shares during the period. Covestor Ltd grew its stake in Roivant Sciences by 9.1% during the 3rd quarter. Covestor Ltd now owns 19,190 shares of the company’s stock worth $222,000 after buying an additional 1,605 shares during the last quarter. US Bancorp DE increased its position in Roivant Sciences by 146.5% during the third quarter. US Bancorp DE now owns 3,278 shares of the company’s stock worth $38,000 after buying an additional 1,948 shares during the period. Finally, Quarry LP increased its position in Roivant Sciences by 50.0% during the third quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $87,000 after buying an additional 2,500 shares during the period. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Price Performance

Roivant Sciences stock opened at $11.84 on Monday. The firm has a 50 day simple moving average of $11.88 and a 200-day simple moving average of $11.44. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 2.10 and a beta of 1.25. Roivant Sciences has a 1-year low of $9.69 and a 1-year high of $13.06.

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.