Roivant Sciences Ltd. (NASDAQ:ROIV) Stock Has Average Target Price of $45.64

Roivant Sciences Ltd. (NASDAQ:ROIV) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $45.64.

A number of analysts have recently weighed in on the company. 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, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Roivant Sciences in a report on Wednesday, August 19th. Guggenheim boosted their target price on Roivant Sciences from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. TD Cowen upped their price target on Roivant Sciences from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Roivant Sciences in a research report on Thursday, September 24th.

Roivant Sciences Stock Performance

Shares of ROIV stock opened at $35.44 on Wednesday. Roivant Sciences has a fifty-two week low of $15.90 and a fifty-two week high of $42.50. The company has a 50 day moving average price of $36.70 and a 200 day moving average price of $32.82. The stock has a market capitalization of $25.60 billion, a P/E ratio of -66.87 and a beta of 1.10.

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, topping analysts’ consensus estimates of ($0.30) by $0.04. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.06 million. Roivant Sciences had a negative net margin of 3,534.96% and a negative return on equity of 22.94%. On average, research analysts forecast that Roivant Sciences will post -2.00 EPS for the current fiscal year.

Insider Transactions at Roivant Sciences

In related news, CEO Eric Venker sold 200,000 shares of Roivant Sciences stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $36.62, for a total value of $7,324,000.00. Following the completion of the transaction, the chief executive officer owned 1,599,154 shares in the company, valued at $58,561,019.48. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mayukh Sukhatme sold 284,707 shares of Roivant Sciences stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $36.25, for a total transaction of $10,320,628.75. Following the completion of the transaction, the insider owned 18,630,739 shares of the company’s stock, valued at $675,364,288.75. This represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,622,688 shares of company stock valued at $58,826,636. 8.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roivant Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of ROIV. Wedmont Private Capital grew its stake in shares of Roivant Sciences by 12.5% during the third quarter. Wedmont Private Capital now owns 17,539 shares of the company’s stock worth $600,000 after purchasing an additional 1,952 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in Roivant Sciences in the third quarter valued at $134,000. GAMMA Investing LLC raised its stake in Roivant Sciences by 21.5% in the third quarter. GAMMA Investing LLC now owns 17,791 shares of the company’s stock valued at $651,000 after buying an additional 3,154 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Roivant Sciences by 500.2% in the third quarter. Farther Finance Advisors LLC now owns 10,707 shares of the company’s stock valued at $392,000 after buying an additional 8,923 shares in the last quarter. Finally, Everhart Financial Group Inc. purchased a new stake in Roivant Sciences during the 3rd quarter worth about $670,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

Roivant Sciences Company Profile

Roivant Sciences Ltd. (NASDAQ:ROIV) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with serious or underserved diseases. The company operates through a network of subsidiary companies, known as “Vants,” each dedicated to specific therapeutic areas, drug candidates or commercial opportunities.

Roivant’s research and development activities have included treatments for immune-mediated diseases, rare disorders, oncology and conditions affecting the nervous system.