Brokerages Set Roivant Sciences Ltd. (NASDAQ:ROIV) PT at $29.50

Roivant Sciences Ltd. (NASDAQ:ROIV) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $29.50.

A number of brokerages have issued reports on ROIV. Sanford C. Bernstein assumed coverage on Roivant Sciences in a research report on Friday, March 20th. They issued an “outperform” rating and a $35.00 target price on the stock. Citigroup lifted their price target on shares of Roivant Sciences from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Leerink Partners upped their price target on shares of Roivant Sciences from $29.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Weiss Ratings downgraded shares of Roivant Sciences from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 9th. Finally, TD Cowen reissued a “buy” rating on shares of Roivant Sciences in a report on Wednesday, March 4th.

Roivant Sciences Stock Performance

Shares of ROIV opened at $26.52 on Friday. The company has a market capitalization of $18.98 billion, a P/E ratio of -22.67 and a beta of 1.17. Roivant Sciences has a one year low of $8.73 and a one year high of $30.33. The stock has a 50-day moving average price of $26.32 and a 200 day moving average price of $21.70.

Insider Activity at Roivant Sciences

In related news, insider Frank Torti sold 1,400,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $27.42, for a total value of $38,388,000.00. Following the completion of the sale, the insider directly owned 13,736,547 shares of the company’s stock, valued at $376,656,118.74. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mayukh Sukhatme sold 1,018,995 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $21.71, for a total value of $22,122,381.45. Following the sale, the insider owned 20,267,429 shares in the company, valued at $440,005,883.59. The trade was a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 6,112,954 shares of company stock worth $157,750,564. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Penn Davis Mcfarland Inc. raised its holdings in shares of Roivant Sciences by 10.1% during the third quarter. Penn Davis Mcfarland Inc. now owns 1,862,088 shares of the company’s stock worth $28,173,000 after purchasing an additional 170,456 shares during the period. TD Asset Management Inc boosted its holdings in shares of Roivant Sciences by 94.7% in the 3rd quarter. TD Asset Management Inc now owns 316,200 shares of the company’s stock valued at $4,784,000 after buying an additional 153,800 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Roivant Sciences during the 2nd quarter valued at about $1,145,000. New York State Common Retirement Fund grew its position in shares of Roivant Sciences by 25.4% during the 3rd quarter. New York State Common Retirement Fund now owns 229,037 shares of the company’s stock valued at $3,465,000 after buying an additional 46,344 shares during the last quarter. Finally, Neo Ivy Capital Management raised its stake in Roivant Sciences by 229.6% during the third quarter. Neo Ivy Capital Management now owns 237,392 shares of the company’s stock worth $3,592,000 after acquiring an additional 165,362 shares during the period. Institutional investors and hedge funds 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.