Roivant Sciences (NASDAQ:ROIV) Given “Buy” Rating at HC Wainwright

Roivant Sciences (NASDAQ:ROIV)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $41.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 9.10% from the company’s current price.

A number of other brokerages also recently issued reports on ROIV. Piper Sandler restated an “overweight” rating on shares of Roivant Sciences in a research note on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Roivant Sciences in a research note on Wednesday, August 19th. Sanford C. Bernstein raised shares of Roivant Sciences to a “strong-buy” rating in a report on Wednesday, July 29th. Guggenheim increased their price target on shares of Roivant Sciences from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Roivant Sciences in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.14.

Roivant Sciences Stock Up 2.3%

Roivant Sciences stock opened at $37.58 on Friday. Roivant Sciences has a 52 week low of $11.85 and a 52 week high of $37.97. The company’s 50 day moving average price is $35.09 and its two-hundred day moving average price is $30.88. The stock has a market cap of $27.14 billion, a P/E ratio of -70.91 and a beta of 1.12.

Roivant Sciences (NASDAQ:ROIV) last released its earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $1.44 million during the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. On average, equities analysts anticipate that Roivant Sciences will post -2 EPS for the current year.

Insider Buying and Selling at Roivant Sciences

In related news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction on Monday, July 27th. The shares were sold at an average price of $34.95, for a total value of $6,990,000.00. Following the transaction, the chief executive officer owned 1,613,063 shares in the company, valued at $56,376,551.85. This trade represents a 11.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Allen Gold sold 12,380 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.28, for a total value of $436,766.40. Following the completion of the sale, the director owned 13,689,166 shares of the company’s stock, valued at $482,953,776.48. The trade was a 0.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,855,913 shares of company stock worth $100,107,258. 8.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in ROIV. California State Teachers Retirement System increased its position in shares of Roivant Sciences by 4,212.2% during the second quarter. California State Teachers Retirement System now owns 19,001,068 shares of the company’s stock valued at $672,448,000 after buying an additional 18,560,434 shares during the period. Morgan Stanley boosted its stake in Roivant Sciences by 31.7% in the 4th quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock worth $1,266,402,000 after purchasing an additional 14,036,696 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Roivant Sciences by 365.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,982,633 shares of the company’s stock valued at $238,323,000 after buying an additional 8,621,567 shares during the last quarter. Norges Bank bought a new position in shares of Roivant Sciences during the fourth quarter valued at $112,750,000. Finally, Jefferies Financial Group Inc. bought a new stake in Roivant Sciences in the 4th quarter worth about $76,272,000. Institutional investors own 64.76% of the company’s stock.

About Roivant Sciences

Roivant Sciences is a biopharmaceutical company focused on the development and commercialization of innovative therapies through a network of subsidiary businesses known as “Vants.” Founded in 2014, Roivant acquires or in-licenses clinical-stage assets that have progressed beyond proof of concept and seeks to advance them efficiently toward regulatory approval. By organizing each program into a dedicated subsidiary, the company aims to streamline decision-making, allocate resources more effectively, and accelerate development timelines.

The core activities of Roivant involve identifying promising drug candidates across a range of therapeutic areas, including neurology, rare diseases, immunology, oncology, and women’s health.