Roivant Sciences (NASDAQ:ROIV) Price Target Raised to $56.00

Roivant Sciences (NASDAQ:ROIV) had its price objective lifted by Citigroup from $46.00 to $56.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Roivant Sciences in a research report on Wednesday, August 19th. Sanford C. Bernstein upgraded shares of Roivant Sciences to a “strong-buy” rating in a research report on Wednesday, July 29th. Stifel Nicolaus began coverage on shares of Roivant Sciences in a research note on Wednesday, September 16th. They set a “buy” rating and a $51.00 price objective on the stock. UBS Group set a $55.00 price objective on shares of Roivant Sciences in a report on Wednesday, September 9th. Finally, Bank of America reaffirmed a “neutral” rating on shares of Roivant Sciences in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Roivant Sciences currently has an average rating of “Moderate Buy” and an average target price of $46.55.

Roivant Sciences Stock Performance

Roivant Sciences stock opened at $36.91 on Wednesday. The business has a 50 day simple moving average of $36.65 and a 200 day simple moving average of $31.46. Roivant Sciences has a one year low of $19.30 and a one year high of $42.50.

Roivant Sciences (NASDAQ:ROIV) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. The firm had revenue of $1.44 million for the quarter, compared to analysts’ expectations of $2.06 million. Roivant Sciences had a negative return on equity of 22.94% and a negative net margin of 3,534.96%. As a group, sell-side analysts anticipate that Roivant Sciences will post -2.00 EPS for the current fiscal year.

Insider Activity at Roivant Sciences

In related news, Director Melissa Epperly sold 17,750 shares of Roivant Sciences stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $36.10, for a total value of $640,775.00. Following the completion of the transaction, the director directly owned 14,954 shares of the company’s stock, valued at $539,839.40. The trade was a 54.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Venker sold 200,000 shares of the company’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $35.11, for a total transaction of $7,022,000.00. Following the transaction, the chief executive officer owned 1,399,154 shares in the company, valued at approximately $49,124,296.94. This trade represents a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,822,688 shares of company stock valued at $66,176,636 over the last ninety days. 8.80% of the stock is owned by insiders.

Institutional Trading of Roivant Sciences

Several hedge funds have recently modified their holdings of the stock. Compass Financial Management LLC bought a new stake in Roivant Sciences during the 3rd quarter worth about $37,000. Oregon Public Employees Retirement Fund lifted its position in Roivant Sciences by 20.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 112,252 shares of the company’s stock valued at $4,105,000 after purchasing an additional 19,100 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Roivant Sciences in the 3rd quarter valued at about $35,624,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Roivant Sciences in the 3rd quarter valued at about $1,550,000. Finally, Profund Advisors LLC boosted its stake in shares of Roivant Sciences by 10.7% in the 3rd quarter. Profund Advisors LLC now owns 62,821 shares of the company’s stock valued at $2,297,000 after purchasing an additional 6,070 shares during the last quarter. 64.76% of the stock is owned by institutional investors.

About Roivant Sciences

Roivant Sciences Ltd. (NASDAQ: ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines. The company organizes its activities through subsidiaries and partner companies, often referred to as “Vants,” which specialize in particular therapeutic areas and stages of drug development.

Roivant’s research and development activities have included immunology, dermatology, women’s health, rare diseases and other specialty-care fields. Its portfolio has included Vtama (tapinarof) cream, a nonsteroidal topical treatment approved in the United States for plaque psoriasis and atopic dermatitis.