Roivant Sciences (NASDAQ:ROIV) Price Target Raised to $47.00

Roivant Sciences (NASDAQ:ROIV) had its price target hoisted by HC Wainwright from $41.00 to $47.00 in a report published on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on ROIV. Sanford C. Bernstein upgraded Roivant Sciences to a “strong-buy” rating in a research note on Wednesday, July 29th. Jefferies Financial Group upped their price objective on Roivant Sciences from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Roivant Sciences in a report on Tuesday, August 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Finally, Bank of America reissued a “neutral” rating on shares of Roivant Sciences in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.62.

Roivant Sciences Trading Down 2.1%

Shares of NASDAQ:ROIV opened at $40.94 on Tuesday. Roivant Sciences has a 52 week low of $13.81 and a 52 week high of $42.50. The company’s 50 day moving average is $35.68 and its two-hundred day moving average is $31.56. The company has a market cap of $29.57 billion, a PE ratio of -77.25 and a beta of 1.12.

Roivant Sciences (NASDAQ:ROIV) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $1.44 million during the quarter, compared to analysts’ expectations of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. As a group, equities research analysts expect that Roivant Sciences will post -2 EPS for the current year.

Insider Activity at Roivant Sciences

In other Roivant Sciences news, Director Daniel Gold sold 12,380 shares of the company’s stock in a transaction 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 transaction, the director owned 13,689,166 shares in the company, valued at $482,953,776.48. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Melissa B. Epperly sold 17,750 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $34.38, for a total value of $610,245.00. Following the transaction, the director directly owned 16,474 shares in the company, valued at approximately $566,376.12. The trade was a 51.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,055,913 shares of company stock valued at $107,261,258 over the last quarter. 8.80% of the stock is owned by insiders.

Institutional Trading of Roivant Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Roivant Sciences by 4,212.2% in the 2nd quarter. California State Teachers Retirement System now owns 19,001,068 shares of the company’s stock valued at $672,448,000 after purchasing an additional 18,560,434 shares during the period. Morgan Stanley lifted its stake in Roivant Sciences by 31.7% in the fourth quarter. Morgan Stanley now owns 58,359,553 shares of the company’s stock valued at $1,266,402,000 after buying an additional 14,036,696 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Roivant Sciences by 365.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 10,982,633 shares of the company’s stock valued at $238,323,000 after acquiring an additional 8,621,567 shares during the period. Norges Bank purchased a new position in shares of Roivant Sciences during the fourth quarter worth approximately $112,750,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Roivant Sciences during the fourth quarter worth approximately $76,272,000. 64.76% of the stock is owned by hedge funds and other institutional investors.

Roivant Sciences News Roundup

Here are the key news stories impacting Roivant Sciences this week:

• Positive Sentiment: Roivant’s Pulmovant reported positive Phase 2 results for mosliciguat in pulmonary hypertension associated with interstitial lung disease (PH-ILD). The treatment produced a reported 56.3% placebo-adjusted reduction in pulmonary vascular resistance, and Roivant has begun the Phase 3 PHrontier trial. The results strengthen the case for a potentially important new therapy and were the primary reason for the recent rally. Roivant Reports Positive Mosliciguat Phase 2 Results
• Positive Sentiment: Jefferies raised its price target for ROIV to $52 from its prior target, while H.C. Wainwright increased its target to $47. The revisions signal continued analyst confidence following the mosliciguat data. Jefferies Raises Roivant Price Target H.C. Wainwright Raises Roivant Price Target
• Positive Sentiment: Large call-option activity and reports that hedge-fund ownership rose 41% in the second quarter indicate strong investor interest and bullish positioning, although options activity can also increase volatility. Roivant Call Option Activity
• Neutral Sentiment: Roivant presented at Citigroup’s Biopharma Back to School Summit and the Cantor Fitzgerald Global Healthcare Conference. These events may provide additional pipeline commentary, but the available reports do not identify a new material announcement. Citigroup Summit Transcript
• Negative Sentiment: The stock’s retreat appears to reflect profit-taking after reaching a record high near $42.50, rather than a clearly negative company-specific announcement. Roivant remains loss-making, and its valuation leaves the shares sensitive to clinical-trial execution and future regulatory risk.

About Roivant Sciences

Roivant Sciences Ltd. is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with significant unmet medical needs. The company concentrates on areas including immunology, dermatology, oncology and other specialty conditions, using a combination of internally developed programs, external licensing and strategic acquisitions.

Roivant organizes many of its drug-development activities through subsidiary companies known as “Vants.” These businesses are designed to advance individual therapeutic programs or groups of related assets, while Roivant provides operational, scientific and strategic support.